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Following is the transcript (English portion) of a media standup session by the Financial Secretary, Mr Henry Tang, after attending a luncheon hosted by the Indian Chamber of Commerce Hong Kong at the Conrad Hotel in Admiralty this afternoon (November 20):

Reporter: Do you think the Hong Kong dollar intervention profile has not been very effective?

Financial Secretary: I believe that the Chief Executive of the Hong Kong Monetary Authority has made various comments on the strengthening of the Hong Kong dollar. He has emphasised the point that the creditability of the link is very important, so we will continue to monitor the situation closely and if necessary we will continue to inject further liquidity into the market.

(Please also refer to the Chinese portion of the transcript)

Ends/Thursday, November 20, 2003

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