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Following is the transcript of the media session given by the Chief Executive, Mr Tung Chee Hwa, after his visit to the Hong Kong International Airport at Chek Lap Kok this (Wednesday) afternoon:

Mr Tung: Today is January 6, actually exactly six months after the opening of the new airport. I thought it was very appropriate time that I should be here to see the new airport, to see how it is operating. And I am very pleased that the new airport is operating really well. During the Christmas season, the airport handled one hundred thousand passengers a day and in the November peak period for cargo movement, the airport handled six thousand five hundred tonnes of cargo. They are all records. They handled them flawlessly, very smoothly. It's something we should all be very proud of. In fact, the success of the airport is now being recognised all around the world, recently, by a very well-known and the leading travel magazine in America which ranked Hong Kong's new airport as the best airport in 1998. It's something we should all be very proud of. When the airport first started operation, yes, things went wrong. Preparation probably in a number of areas wasn't enough. Well, it was a lesson and that it is important to know that actually on the passenger side, the recovery was rather quick. Within days, the operation began to resume normal. And on the cargo side, there were difficulties. But after just over a month or so, even the cargo side started to operate normally. Of course, during that period of time, we suffered losses. The future of Hong Kong is very much dependent on the operation of the airport because we are an international transport centre. We are a centre for commerce, a centre for export and import and a centre for tourism. And therefore the successful operation of the airport is vitally important to the economic development and recovery of Hong Kong and I am glad to see that the airport is now here. It is operating well and I am sure it will contribute to the success of Hong Kong's recovery in the future. There were a lot of criticisms when the airport began its operation and rightly so because things weren't right. I think I was unhappy. I know everybody here was unhappy. But I am pleased that things are going well now. Criticism was important because it was a way for everybody to learn and to improve. But now the operation is going well. It is also time for us, as a community to say, yes, well done! The airport is going well. The last six months of hard work has shown results. Here I also want to pay tribute to the Airport Authority and the colleagues for really a job well done. Thank you very much.

Reporter: Mr Tung, how do you feel the move or the decision by Prime Minister Zhu Rongji to set up a study to look at ways to help boost investments in Hong Kong. How do you see that decision?

Mr Tung: I don't know which committee, which study you are talking about. I don't think I would comment on speculative reports of that kind. But I do want to say that firstly, of course the central government is very keen to assist Hong Kong in any way possible in our recovery process and secondly the fact that the economy of Mainland China grew by 7.8%, was a tremendous help to Hong Kong, and the fact that the economy looks set for another healthy growth in 1999 will help Hong Kong also.

Reporter: What are you going to discuss with Mr Greenspan when you meet him this weekend?

Mr Tung: Your news is very good. You know already. Well, I am looking forward to meeting Mr Greenspan. Obviously, we will be talking about a whole series of issues which are of great interest to us here in Hong Kong. And I am looking forward very much to meeting with him. As you know, Hong Kong is a very externally oriented economy. Therefore, what happens in the United States of America, what happens all around Asia will have a major impact on us. And of course, what happens in America has an impact on the rest of the world. So I am very much looking forward to seeing him.

End/Wednesday, January 6, 1999

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Chief Executive's transcript (Chinese)