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Following is a transcript of remarks by the Chief Executive, Mr Donald Tsang, at a media session in Beijing today (December 23):
Reporter: Were you able to tell him you are sorting out the problem or did you tell him why it has taken you so long to solve this kind of problems?
Chief Executive: First of all, the Premier was very charitable in his remarks on what we have done and what we have achieved, not only on the political front but also on economic performance. On the question of the problems we face, these are universal problems, problems of flush liquidity in the market and of course the question of inflationary pressure. These are the pressures that we have to contend with as well as the Mainland of China and other countries as well. On these matters we exchanged views what we should do. But one thing is clear: the problems will not go away. These will only grow stronger, particularly the question of inflationary pressure and volatility in the monetary market in the coming years. On these questions we have made exchanges. As I said the Premier was very charitable on our performance and I'm very grateful for his remarks.
(Please also refer to the Chinese portion of the transcript.)
Ends/Thursday, December 23, 2010
Issued at HKT 18:48
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