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Mainland to help guide bridge fund
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08:38, November 23, 2007

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The central government will coordinate financing for the planned Hong Kong-Zhuhai-Macao Bridge and a tripartite meeting will take place soon.

This was the promise the National Development and Reform Commission (NDRC) made to Hong Kong Chief Executive Donald Tsang when he visited the State planning body on the second day of his duty visit to Beijing yesterday.

While meeting with NDRC Vice-Minister Chen Deming, who stood in for Director Ma Kai, Tsang said the financing process for the bridge project will require coordination by the central authorities.

Chen said a meeting will be arranged between the three cities in the near future and that he hoped that the financing process will be completed very soon.

Tsang also expressed the hope that the central government will take into account the development of Hong Kong in its 12th Five-Year Plan (2011-15).

He said the meeting with the NDRC was a good opportunity to explain the latest changes in Hong Kong, such as its infrastructure development, and help the agency understand the city's situation.

Tsang said Hong Kong is well into its third issuance of renminbi bonds and the exercise is heading in the right direction. He hoped the central government will endorse the issuance of more renminbi bonds.

Tsang also visited the Chinese Investment Corporation (CIC), which was founded in September.

During the visit, Tsang said the establishment of the CIC will help promote foreign exchange business and increase revenue for the mainland.

Source: China Daily

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