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Property sales dip 27.5%

The Land Registry recorded 3,189 sale and purchase agreements for all building units received for registration in February, down 27.5% compared with January and 46.7% lower year-on-year.   The total consideration for such agreements in February fell 32.9% from January, to $22.6 billion, while a 48.5% year-on-year decrease was recorded.   Of the agreements, 2,375 were for residential units, down 31.7% from January and 44.5% lower than a year ago.   The total consideration for residential units was $19.1 billion, a decrease of 31.3% compared with January and down 47.9% year-on-year.   There were 276,910 land register searches last month. http://dlvr.it/T3ZqYl

HK fully co-operates with central govt

The Hong Kong Special Administrative Region Government today said the central government has the authority and responsibility to improve the city’s electoral system, adding that it will render its full co-operation to the central government.   The Hong Kong SAR Government made the statement in response to the deliberation by the National People's Congress of a draft decision on improving the city's electoral system.   The Hong Kong SAR Government said to ensure the steadfast and successful implementation of "one country, two systems", Hong Kong must always adhere to the principle of "patriots governing Hong Kong".   The principle is fundamental to national sovereignty, security, development interests, as well as the long-term prosperity of Hong Kong, it added.   "Only through ‘patriots governing Hong Kong’ can the central government's overall jurisdiction over the Hong Kong SAR be effectively implemented, the constitutional order as set out by the Constitution and the Basic Law be effectively safeguarded and the long-term stability and safety of Hong Kong be achieved.   "Matters concerning the political system of the Hong Kong SAR are the prerogative of the central government. The central government has the authority and responsibility to improve the electoral system in Hong Kong.   "The Hong Kong SAR Government respects that the central government is taking the lead and will render its full co-operation," the statement said.
http://dlvr.it/RtzB3d

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