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Following is the transcript of remarks (English portion) of a media session by the Chief Executive, Mr Donald Tsang, in Beijing this afternoon (December 27):
Reporter: You've mentioned that there are many good results out of these meetings. Can you just tell me briefly what those outcomes are, for example, on Renminbi business, on the bridge and on tourism? And also, could you tell us what we could expect from your meetings with President Hu Jintao and Premier Wen Jiabao? Will you raise the issue of democratic reform?
Chief Executive: You have raised six questions. Which one do you want me to answer? Let me tell you this. Today I am concentrating on financial matters. For that reason, I am answering those questions. As regards the meetings I am going to hold tomorrow and the day after tomorrow, particularly with the President, I will report to you after the meeting. As far as today﷿s meetings are concerned, we have been concentrating on financial matters. As far as Renminbi is concerned, we have had very in-depth discussion on the wider circulation of Renminbi in Hong Kong, particularly, using Renminbi held in Hong Kong for settlement of importation of goods from the Mainland, and to allow a Mainland institution to float debt instruments denominated in Renminbi. This has been under discussion for some time. I think we have brought it to almost finality, which is satisfactory. And I expect the good news will be forthcoming from the Central Government very shortly.
On the question of the bridge that we are building up in Hong Kong, Macau and Zhuhai, we have discovered the logical step to do is for the Central Government to establish a committee, a coordinating committee. We will pool in the energies from different sources ﷿ from ourselves, from Macau and from Guangdong ﷿ to take the work ahead. This will require work not from Hong Kong alone, nor from Macau, nor from Guangdong. There must be some coordination from the Mainland. So a committee has been formally established under the leadership of the Deputy Director of the National Development and Reform Commission. And I am sure it will take this project forward and this is one which we have been hoping for a long time.
(Please also refer to the Chinese portion of the transcript.)
Ends/Wednesday, December 27, 2006
Issued at HKT 21:40
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