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The Chief Executive, Mr Tung Chee Hwa, issued the following statement on the resignation of the Financial Secretary, Mr Antony Leung, today (July 16):

Mr Antony Leung today tendered his resignation as Financial Secretary. After consideration, I have decided to respect his wish and accept his resignation. I have recommended to the Central People's Government the removal of Mr Leung from the post of Financial Secretary, in accordance with Article 48(5) of the Basic Law.

During his tenure as Financial Secretary, Mr Leung has devoted his best efforts to revitalising the economy of Hong Kong. In particular, he has made important contributions in tackling the deficit, restructuring the economy, concluding the Closer Economic Partnership Arrangement between the Mainland and Hong Kong and relaunching Hong Kong after the SARS outbreak. I would like to express my heartfelt thanks to Mr Leung for his service and wish him every success and happiness in the future.

End/Wednesday, July 16, 2003

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