Chief Executive Donald Tsang was very much impressed yesterday by the Financial Street and Dashanzi 798 Art Zone during his three-day duty visit to Beijing - his first visit to the capital after the 17th Congress of the Communist Party of China.

 

Tsang, who arrived in the city in the morning yesterday, was greeted at the airport by Chen Zuoer, deputy director of the Hong Kong and Macao Affairs Office.

 

As Tsang marveled at the modern buildings in Beijing's financial district, he also showed great admiration for the city's creative industry. The CE said Hong Kong's proposed West Kowloon Cultural District could borrow their ideas and experience.

 

In the afternoon, Tsang called on a number of financial officials and Beijing Mayor Wang Qishan.

 

During the meeting with Wu Xiaoling, deputy governor of the People's Bank of China, he discussed the 'through train' arrangement for mainland people to invest in the Hong Kong stock market. After the meeting, Tsang quoted the deputy governor as saying that Premier Wen Jiabao had made a decision and the arrangement would take effects after policy measures were rationalized. However, no timetable was given.

 

Tsang later called on Wu Dingfu, chairman of China Insurance Regulatory Commission as both financial institutions are located in Beijing's famous Financial Street. At the meeting, Wu said Hong Kong's economic and financial development was growing robustly under Tsang's leadership.

 

He also said the Financial Street has been developing very fast in recent years. Not only is it the home to the five major financial institutions and ministries (the other three are: China Banking Regulatory Commission, China Securities Regulatory Commission and National Council for Social Security Fund), it is also the rendezvous of the headquarters of such State enterprises as the Bank of China, China Mobile and China Telecom and Netcom.

 

"The Financial Street is the heart of China's financial policies," said Wu. "As it is neatly planned, it has a better environment than the central business district in the east of the city."

 

Tsang said Beijing has undergone very rapid changes and the country's overall economic development is very good. He also welcomed the launch of provisional regulations on mainland insurance companies investing in offshore destinations and hoped they would select Hong Kong as their first choice destination and expected Beijing and Hong Kong could enhance mutual exchanges and manpower training.

 

Earlier, Tsang went to the Dashanzi Art District and stayed there for about half an hour. He marveled at the artists' creativity in transforming old factory houses into cultural hubs, as well as the bizarre, avant-garde collections. He further said Hong Kong's upcoming West Kowloon Cultural District could be modeled on part of the facilities of the art district.

 

In the evening, Tsang paid a courtesy visit to Beijing Mayor Wang Qishan. Calling the Dashanzi Art District as a perfect example of vitalization of old districts, he proposed to borrow state-class antique items for exhibition in Hong Kong to enhance Hong Kong people's knowledge of history.

 

Talking about the equestrian event of the Beijing Olympic Games, Wang said the trial held in Hong Kong in the summer was successful and it showed the central government had made the right decision for Hong Kong to host the equestrian event.

 

Wang further said the Beijing-Hong Kong cooperation seminar held in the capital earlier this month was very successful, while the scope of mutual cooperation is getting wider and wider.

 

(China Daily November 22, 2007)