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Following is the English part of the transcript of the meet-the-media session by the Chief Executive, Mr Tung Chee Hwa, at CGO this (Friday) afternoon:-

Reporter: We have seen the stock market go down today. In response to the attack on the Hong Kong dollars and the Government's attempt to defend it, would you talk about.........?

Mr Tung: First of all, let me emphasise that our determination to maintain the linked exchange rate as a fundamental policy of the SAR Government is strong and unwavering and that we have the ability as well as the determination to do it. We also have the need to do it because it is in the long-term economic interests of Hong Kong that the linked exchange rate be maintained. Thank you very much.

End/Friday, August 7, 1998

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Chief Executive's meet-the-media session (Chinese)