Team player: Chief Executive Donald Tsang speaks to the press in Beijing, saying new Vice-President Xi Jinping and the Central Government will continue supporting Hong Kong.

Chief Executive Donald Tsang said new Vice-President Xi Jinping, who will be in charge of Hong Kong affairs, knows Hong Kong's social, political and economic conditions well.

Summing up his trip in Beijing with the media this morning, Mr Tsang said he had a good impression of Mr Xi after their meeting. He said Mr Xi showed a clear understanding of many aspects of Hong Kong and has a well established network here.

Mr Tsang added the Central Government will not change its policy towards Hong Kong and will continue to support the city.

Investment issues

Regarding recent stock market fluctuations, Mr Tsang reiterated Hong Kong has a good foundation and development on the Mainland continues to trigger economic activity in the city. He said the global financial crisis will not harm Hong Kong's market but called on market participants to invest carefully.

Mr Tsang said the Central Government is analysing the possible impact of the "through train" scheme for Mainland people to invest in Hong Kong equity but no timetable is available yet.

After meeting People's Bank of China Governor Zhou Xiaochuan, Mr Tsang said Mr Zhou agreed to a further expansion of renminbi business in Hong Kong, adding it will remain the centre of renminbi business development outside the Mainland.

Culture exchange

During his stay in Beijing Mr Tsang also visited the China Securities Regulatory Commission and the Ministry of Culture.

As the exhibition of the long handscroll Along the River During the Qingming Festival in Hong Kong last year was a great success, Minister of Culture Sun Jiazheng said more national treasures will be exhibited in Hong Kong this year. Mr Tsang hopes the Olympic Equestrian events will be the theme for the exhibitions.

He added more Hong Kong artists will be encouraged to perform on the Mainland and the Government will lure Mainland performers and audiences to contribute to the development of the West Kowloon Cultural District.