Glonghui, October 26 | According to UBS's rating report, the Hong Kong government policy report proposes four major policies, including reducing property stamp duties, developing the northern metropolitan area, building a collective transportation system at the Kai Tak runway, and strengthening talent acquisition plans. The bank believes that the news of the stamp duty reduction has been digested by the market, but the speeding up development of farmland in the northern metropolitan area and the construction of the Kai Tak Monorail are still not reflected. The bank anticipates that the reduction in property stamp duty will have a short-term positive impact, mainly because the market is still concerned about the current high interest rates and the high debt risk of small and medium-sized developers. The bank reiterated that property prices in Hong Kong are expected to drop by up to 5% this year and another 10% next year, favoring Henderson Land and Sino Real Estate.