Shake on it: Chief Executive Tung Chee Hwa welcomes John Tsang, Henry Tang, Ambrose Lee and Raymond Wong to their new posts. He said their appointments will help Hong Kong develop a more open, progressive and efficient Government.

Chief Executive Tung Chee Hwa has announced the appointment Henry Tang as the new Financial Secretary and Ambrose Lee as Secretary for Security.

Henry Tang presently serves as Secretary for Commerce, Industry & Technology; Ambrose Lee, a former Director of Immigration, is now the Independent Commission Against Corruption Commissioner.

John Tsang will replace Henry Tang as the head of the Commerce, Industry & Technology bureau. Mr Tsang is now Permanent Secretary for Planning & Lands.

Commissioner of Customs & Excise Raymond Wong has been named as Ambrose Lee's replacement.

"I'm pleased to announce that the Central People's Government has, on my nomination and recommendation, approved the appointment of the Financial Secretary and several principal officials," Mr Tung said.

"The public knows every one of them well. They all have excellent leadership skills and a wealth of experience."

Mr Tang came from the business sector and served in a number of public service posts before joining the Government, Mr Tung said.

"After working in the Government for more than a year, he has gained a good grasp of the structure and the operation. He is also very familiar with the operation of the market. He is the best choice for the Financial Secretary."

The other three are also ideal choices for their new posts, Mr Tung said.

They have been serving the Government for many years and have in-depth understanding of the Government and how the policy process works, he added.

"I am also confident the Financial Secretary and the three other Principal Officials  will help us move towards a more open, progressive and efficient Government. They will work for the interests of the people of Hong Kong and do their utmost to serve the public.

"I hope they can count on the support of the community and work together for the benefit of Hong Kong."

HKMA welcomes new Financial Secretary

Chief Executive of the Hong Kong Monetary Authority Joseph Yam welcomed the appointment of Henry Tang as Financial Secretary. 

Mr Yam said, "Henry Tang has accumulated extensive and valuable experience in government, politics and public organisations over many years, in addition to his distinguished background in the private sector. 

"This experience will equip him well and provide him with an excellent perspective for tackling the many challenges in his new position."