Rise & shine: Hong Kong will "rise again, stronger than before", new Financial Secretary Henry Tang says.

Hong Kong will "rise again, stronger than before". This was the promise of new Financial Secretary Henry Tang today, briefing the media after it was announced he would take up the post with immediate effect.

Mr Tang said that at a time when Hong Kong is facing unprecedented challenges of economic restructuring, unemployment, deflation and fiscal deficit, it is important everyone in the community works together to make the most of our economic strengths.

Vote of confidence in Hong Kong's future

"Despite the current economic difficulties we are facing, we should not lose sight of our unique advantages and our good economic fundamentals. Hong Kong's close economic links with the Mainland are a key advantage for us and will be further strengthened under CEPA," he said, referring to the new Closer Economic Partnership Arrangement between Hong Kong and the Mainland.

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

Reviving economy No. 1 priority

Mr Tang said he has built a good working relationship with civil servants and principal officials over the last year, and said he is keenly aware of the heavy responsibility and high public expectations the post brings to him.

He said his top priority is to improve Hong Kong's economy.

"In the months ahead I will engage in active dialogue with a cross-section of our community to understand better their aspirations. I will also consult legislators, the business community and all sectors of society on effective measures to tackle our economic challenges.

A vow to work closely with the community

"I am determined and am confident I will be able to work closely with the community in overcoming economic difficulties and develop a prosperous, harmonious and caring society. I hope the public will work together with me to achieve this goal.

"Economic improvement is my number-one priority. I will be progressive and proactive in balancing considerations from various sectors. I will vigorously be listening to various views to come up with my proposals."