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Acting FS's transcript at opening of HK Electronics Fair
(Autumn Edition) and electronicAsia 2005

Following is the transcript (English portion) of remarks made by the Acting Financial Secretary, Mr Frederick Ma, at the Joint Opening Ceremony of Hong Kong Electronics Fair (Autumn Edition) and electronicAsia 2005 today (October 13):

Reporter:¡]About the timetable for the 2nd phase of the reminbi business¡^

Acting Financial Secretary: As I said, the Hong Kong Monetary Authority and the People's Bank of China will discuss the details. We hope to implement those measures as soon as possible because these measures would help to further the economic cooperation between Hong Kong and the Mainland, and also facilitate the citizens of the Mainland and Hong Kong to enjoy spending in the two places as well as to reinforce Hong Kong as an international financial centre.

Reporter: About reminbi cheque business, do you think Hong Kong people would like to use such service?

Acting Financial Secretary: It is difficult to tell. We are simply trying to facilitate Hong Kong citizens to have another means of payment in addition to cash and credit card.

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

Ends/Thursday, October 13, 2005
Issued at HKT 13:25


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