The following is the transcript of remarks by the Chief Executive, Mr Tung Chee Hwa, after a meeting with French President, Mr Jacques Chirac in Paris today (Friday).

I arrived in France with my colleagues two days ago, we've had a very fruitful visit here. We have been very warmly received by the French Government authorities, by the private sector of France because both attach, both ourselves and France, attach great importance to this relationship.

I explained in my meeting with President Chirac, I explained to President Chirac, how well Hong Kong is moving. One country, two systems is really now being fully implemented. President Chirac congratulated us on this and he thought we really are doing well under 'one country, two systems' and that the return has been very smooth and for which he congratulated us.

President Chirac talked about the importance of the Sino-French relationship and also about the importance of a Hong Kong-French relationship, both from an economic, financial and trading point of view.

We have also talked about the Asian financial turmoil, how it's likely to play out, its impact on Hong Kong. I restated my determination to maintain the linked exchange rate to which he supported fully. He emphasised the stability of renminbi as well as the Hong Kong dollar because this will bring, will help in bringing about stability in a very turmoil Asia at this moment.

I also took the opportunity to raise the issue about visa-free access for Hong Kong residents to France and he has said he will look into this very positively.

All in all I think my colleagues and I have had a very fruitful visit to France and we are now rushing to the airport so I am sorry I'm not going to answer any questions otherwise I'm going to miss my flight. Thank you.

Chief Executive 's transcript in Paris (Chinese part)