The Central Government has actively and positively responded to requests Chief Executive Donald Tsang has made to help Hong Kong weather the global financial crisis and continue its contribution to the nation's development.

Concluding his duty visit to Beijing today Mr Tsang said the proposals include strengthening Hong Kong as a global financial centre, and the city's ties with the Pearl River Delta region.

"I believe this is a very substantive advance in our efforts to overcome the current financial crisis as well as strengthening Hong Kong as a global financial centre and a servicing centre," he said.

He also quoted President Hu Jintao and Premier Wen Jiabao as acknowledging the Hong Kong Government's work and achievements. They pledged support for promoting monetary co-operation between Hong Kong and Guangdong.

Fiscal boost

The Central Government will allow eligible firms to perform renminbi trade payment in Hong Kong. It also agrees the People's Bank of China should sign a currency exchange pact with the Hong Kong Monetary Authority and provide capital support to Hong Kong if necessary.

Mainland organisations will be encouraged to launch global financial business by using Hong Kong as a platform, and to establish or expand branches in the city.

The Central Government supported Mainland enterprises listing in Hong Kong, with a group of firms already gaining permission to do so.

Delta co-operation

Besides accelerating the Hong Kong-Zhuhai-Macau Bridge project, the Central Government will also promote a rail project linking Hong Kong and Shenzhen airports, the Guangdong-Shenzhen-Hong Kong rail system and the revampment of the Huanggang and Man Kam To control points.

Beijing supported Hong Kong firms in taking up construction of the fourth Shenzhen railway line. It also backed further development of the boundary area.

Hong Kong, Guangdong and Macau will deepen co-operation with a view to developing the region into a world-class metropolitan area of high technology and low pollution.

Business opportunities

Mr Tsang said Mainland authorities and Hong Kong will soon discuss further opening-up measures with a view to signing the Closer Economic Partnership Arrangement Six next year.

While the expansion of the individual visit scheme will be studied to cover more Mainland cities, Shenzhen residents - whose household registrations are not Guangdong - can join the scheme now.

On Hong Kong's small and medium enterprises on the Mainland, Mr Tsang said the Central Government will further adjust and refine the exports tax rebate rate and the labour system to ease their burden, and will facilitate domestic sale of goods and establish a capital-raising guarantee system for them.

He added President Hu and Premier Wen firmly believe Hong Kong people can ride through difficulties and maintain the city's economic prosperity and sustainable development with its abundant human resources and fiscal strength.