Chief Executive Donald Tsang has refuted media reports regarding his family's dealings with lighting supplies and minibonds, saying they are unfounded, malicious and aim to undermine public trust in the Government.

Speaking to reporters after meeting the Executive Council today, Mr Tsang said as Hong Kong's head of Government he regretted the media's behaviour and wanted to clarify the situation.

He said in encouraging people to use compact fluorescent lamps to replace incandescent light bulbs, Government policy has always been open, transparent and consistent.

"The policy has been in place for years. It was set out after the relevant departments fully considered public opinion. All suppliers can participate equally in the cash coupons initiative launched in the Policy Address," he said.

"All Government policies put public interest first. Some people have twisted the meaning of the policy and portrayed this open and transparent policy as transfers of benefits. This is most unfair to all those colleagues and community groups who have been promoting the policy."

Unfounded claims

Mr Tsang also rejected recent minibonds allegations saying they are unsupported by facts. The Government has always hoped for an early resolution of the Lehman Brothers minibonds issue, but he said a deal struck by a bank and a minibond holder is private and the Government does not participate in it.

He said he neither knew beforehand his relative had sought compensation from the bank, nor did he exercise any influence in the settlement process.

Mr Tsang said the public and anyone who loves freedom of speech will not support newspapers twisting facts and making wilful attacks.

"The Policy Address is the annual focus of Government governance. I hope different sectors of the community will discuss it seriously and put forward their views. I will listen to criticisms with humility to improve governance."