*************************************************

Following is the transcript (English portion) of a meet-the-media session by the Financial Secretary, Mr Henry Tang, on the Policy Address this (January 12) afternoon:

Reporter: In terms of the Commission on Poverty, what are the people you are going to recruit to implement the measures?

Financial Secretary: On the Commission on Poverty, we will invite people who have a standing credibility, as well as a thorough understanding of the issues on poverty.

We will launch our work as soon as possible because the community has very high expectation of this Commission.

Reporter: There are different people asking for money, which are the areas that you will focus on?

Financial Secretary: The Chief Executive, in his Policy Address, had re-affirmed that our expenditure on welfare and welfare-related areas are actually going to be quite substantial. So, the Government's commitment on welfare is unwavered.

(Please also refer to the Chinese portion of the transcript.)

Ends/Wednesday, January 12, 2005

NNNN

News clip (Real Media/Windows Media)