HK New Financial Secretary Vows to Improve Economy

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Last updated at: (Beijing Time) Tuesday, August 05, 2003

HK New Financial Secretary Vows to Improve Economy

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- Tang Ying-yen, the newly-appointed Hong Kong financial secretary who takes his priority as improving economy said Monday he will work with the community to overcome difficulties and develop a prosperous, harmonious and caring society.

Tang made the remarks at a news conference after he was announced by the chief executive Tung Chee Hwa as the new financial secretary.

Tang said when Hong Kong is facing unprecedented challenges of economic restructuring, unemployment, fiscal deficit, deflation, he is keenly aware of his responsibilities and Hong Kong people's expectation.

"Despite the current economic difficulties, we should not lose sight of our unique advantages and our good economic fundamentals," Tang said.

He said Hong Kong's close economic links with the mainland is akey advantage for Hong Kong and this will be further strengthened by the recently signed Mainland / Hong Kong Closer Economic Partnership Arrangement.

"I am fully confident that Hong Kong will rise again stronger than before if our community can work together to face and overcome those challenges," Tang said.

Tang had served before the new appointment as Secretary for Commerce, Industry and Technology since July 2002. He ever was a member of the Executive Council and a member of the Legislative Council for many years.

Tang said he will engage in active dialogues with a cross-section of the community in order to understand better their aspirations, and will also consult the members of the Legislative Council, business community, and all sectors of the society on effective measures to tackle economic challenges.

Tang said he is determined and confident in Hong Kong's better future.

"I hope the public will work together with me to achieve the goal," he said.

Backgrounder: Newly-appointed HK Financial Secretary Tang Ying-yen

Tang Ying-yen was appointed on Saturday as financial secretary of the Hong Kong Special Administrative Region (HKSAR) government by the State Council, or the central government of China.

Tang had served as Secretary for Commerce, Industry and Technology of the Government of the Hong Kong Special Administrative Region since July 2002 to deal with policies in relation to information technology, telecommunications, broadcasting, film services, innovation and technology, external commercial relations, industry and business support, intellectual property protection and inward investment promotion.

Tang has a long record of public service. He has been a member of the Executive Council since 1997. He served as a member of the Legislative Council for seven years from 1991 to 1998.

Tang has also served extensively on various government boards and public bodies, including the Trade Development Council, Town Planning Board, University Grants Committee, Council of the City University of Hong Kong and Services Promotion Strategy Group in the Electronics and Textile industries.

Before joining the government, Tang was a leading industrialistin Hong Kong. He received the Young Industrialist Awards of Hong Kong in 1989 and was selected as a Global Leader for Tomorrow by the World Economic Forum in 1993. He served as chairman of the Federation of Hong Kong Industries between 1995 and 2001.

He was also a Committee Member of the Hong Kong General Chamberof Commerce and a Steward of the Hong Kong Jockey Club. In 2000, he received the Gold Bauhinia Star Award of the Hong Kong Special Administrative Region.

Tang was born in Hong Kong in 1952. He holds a Bachelor of ArtsDegree from the University of Michigan. He is married with four children.

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