Tsang aims for steady path in economic storm
Hong Kong Chief Executive Donald Tsang Yam-Kuen vowed to keep the Asian financial hub on course despite global economic turmoil, while promising help to the city's most vulnerable.
In his annual policy address, Tsang said there would be no turning away from the territory's "big market, small government'' ethos.
"We will address squarely the challenges ahead with effective crisis management and improvements to our systems,'' Tsang told legislators.
Tsang will chair a task force to monitor the impact of the global crisis on the local market, and promised increased supervision of the financial sector.
He said rules on fund managers would also be tightened and more disclosure required for investors, following the Lehman Brothers "mini-bond'' scandal.
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