- 43.
"In this period certain important events will occur. Not the least of these will be the appointment of the Chief Executive, the formation of the Special Administrative Region (SAR) government and the compilation of a 1997-98 Budget that will take us through from British to Chinese sovereignty," he said.
"As Financial Secretary of Hong Kong, I see my role as re-affirming the economic system that we have developed and refined over the past decades.
"I shall make sure that this system will carry through the transition, forming a solid foundation and inspiring more enviable economic advancement for the Hong Kong SAR."
Mr Tsang firmly believed that Hong Kong society would not only survive the transition but thrive on the challenge and prosper.
"It will continue to sustain a vibrant economic growth in Hong Kong into the next millennium. In turn it will bring benefits to the international community with whom Hong Kong vigorously trades," he said.
Mr Tsang will travel to New York on October 3 to officiate at the opening of the Hong Kong Monetary Authority's newly established representative office there.
He will make use of the opportunity to meet leading bankers in New York before concluding his visit in the United States.
Mr Tsang will then continue his journey to Europe where he will sign investment promotion and protection agreements with Belgium. Luxembourg and Austria and an Air Services Agreement with Italy.
End
Joint sea exercise enhances search and rescue co-operation
A high-speed ferry sailing from Hong Kong to Macau this (Thursday) morning collided with another vessel along the Hong Kong-Macau ferry route.
The collision near the Qing Zhou Fairway between Hong Kong and Macau caused a fire in the engine room of the high-speed ferry, disabling the craft.
Some 50 passengers on board the ferry sustained various degrees of burns and injuries. The high-speed ferry master sent.out a 'mayday' message.