Bridge building: Chief Executive Donald Tsang and National Development & Reform Commission Minister Ma Kai discuss the construction progress of the Hong Kong-Zhuhai-Macau Bridge.

Chief Executive Donald Tsang is forecasting "good news" for Hong Kong, saying positive feedback has been received from the Central Government on further expanding renminbi business in the city.

Mr Tsang has asked the Mainland authorities to consider allowing Hong Kong importers to settle direct import trade from the Mainland in renminbi, and allowing Mainland financial institutions to issue renminbi financial bonds in Hong Kong.

Speaking in Beijing today, Mr Tsang said he discussed the two initiatives with monetary officials and received positive feedback. Announcements could be made soon. He also discussed how to encourage Mainland banks and enterprises to make listing applications in Hong Kong. He said Mainland authorities agreed to speed up the procedures of approving qualified Hong Kong companies' applications to operate in the Mainland.

Bridge building

On the Hong Kong-Zhuhai-Macau Bridge, Mr Tsang said the State Council will form a group to co-ordinate the project, comprising officials from each jurisdiction. Mr Tsang believed the group will help speed up construction.

On tourism, the Chief Executive said he was pleased to note that the Individual Visit Scheme will be further expanded to more Mainland cities, and the scheme will be implemented in 49 Mainland cities next year.

Mr Tsang also spoke with officials on how to allow more Mainland tourists to visit Hong Kong and how the city's tourism trade can develop business across the boundary, plus how the trade should make use of the business opportunities brought by the Beijing Olympics.