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Following is the transcript of remarks (English portion) by the Chief Executive, Mr Donald Tsang, at a media session at the Central Government Offices, Main Wing, today (September 30):
Chief Executive: The US Government's rescue package was not approved by the US Congress yesterday and this has caused some traumatic performance in the US stock market. This will inevitably cause a period of instability throughout the world and the Hong Kong market will suffer as well. But we must remember that in dealing with financial crises of this kind, Hong Kong has accumulated considerable experience. Over the last 10 years we overcame the problem of the Asian financial crisis and economic problems led by the SARS epidemic. We overcame them, and we must also remember that the economic fundamentals of Hong Kong are good, and our regulatory system, our fiscal economic system, are sound. For that reason we should have confidence in ourselves in dealing with crises of this kind.
(Please also refer to the Chinese portion of the transcript.)
Ends/Tuesday, September 30, 2008
Issued at HKT 12:33
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