Warm welcome: Chief Executive Tung Chee Hwa meets Vice Premier Wu Yi in Xiamen.

The Central Government is studying allowing Mainlanders to come to Hong Kong as investment immigrants, Chief Executive Tung Chee Hwa says.

Speaking after meeting with Vice Premier Wu Yi in Xiamen today, Mr Tung said there are a number of factors that need to be considered, including the convertibility of the yuan.

Mr Tung said he discussed a number of issues with Ms Wu, including the implementation of CEPA, Hong Kong professionals' development on the Mainland and co-operation with Shanghai.

He said details of the definitions of a Hong Kong product which can enter the Mainland market tariff-free will be announced by the end of the month.

On the development of Hong Kong professionals on the Mainland, the Chief Executive hopes that more opportunities can be given. Mr Tung admitted it is not a simple issue, adding that both governments have agreed to handle the easier aspects first, followed by the more complicated ones. A meeting with the Central Government on this issue will be held later this month.

On co-operation with Shanghai, Mr Tung said enhanced collaboration will not only benefit the two cities, but the whole country.

Speaking on Basic Law Article 23, Mr Tung said the Central Government gives its full backing to his decision to withdraw the bill.

The Chief Executive will attend the seventh China International Fair for Investment & Trade in Xiamen tomorrow and address the International Investment Forum.