Tycoon Henry Cheng Kar-shun, head of a business group which seeks to promote confidence in Hong Kong, made an embarrassing slip of the tongue yesterday when asked what passport he held. He said he held a French passport as 'a matter of confidence' - but quickly corrected the phrase to 'convenience'. He did not say how he had obtained the passport. '[The passport] does not have any impact on whether you have confidence in Hong Kong or not. Confidence is the investment you have made and all of my investment is here,' he said. Mr Cheng, chairman of the Better Hong Kong Foundation's Advisory Council and managing director of New World Development, was speaking to the Foreign Correspondents' Club on why he was bullish about the future of Hong Kong and China. He said he was optimistic about the future because China would stick to its economic reforms. Beijing had assured him Hong Kong would retain a 'high degree of autonomy', he said.