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 a key 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.

(Xinhua News Agency August 5, 2003)