2 October 2014
Last updated at 12:02 ET
At a news conference shortly before the protesters' deadline expired, he warned that attempts to occupy government buildings would be met with a police response.
But Mr Leung said his government was willing to hold talks with protesters.
He said the chief secretary of the territory, Carrie Lam, would open a dialogue with student leaders as soon as possible.
"The Hong Kong government is always willing to discuss the (political) reforms," he said.
by Xian Wan and Biodun Iginla, BBC News, Hong Kong
Hong Kong's Chief
Executive CY Leung has said he will not resign amid calls from
pro-democracy protesters for him to step down by midnight.
The protesters have surrounded two key government buildings in the territory.At a news conference shortly before the protesters' deadline expired, he warned that attempts to occupy government buildings would be met with a police response.
But Mr Leung said his government was willing to hold talks with protesters.
He said the chief secretary of the territory, Carrie Lam, would open a dialogue with student leaders as soon as possible.
"The Hong Kong government is always willing to discuss the (political) reforms," he said.
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