Hong Kong real estate market pressure prompts government calls for $2 billion support fund

The Hong Kong Real Estate Association proposes to set up a HK$20 billion (approximately US$2.6 billion) fund to invest in non-performing assets, aiming to alleviate systemic financial risks during the downturn in the commercial real estate market. The sluggish real estate market has led to an increase in non-performing loans, forcing businesses to sell assets and pose liquidity problems for developers and investors, which could threaten Hong Kong's position as an international financial center.