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CE appoints members of Task Force on Economic Challenges

     The Chief Executive, Mr Donald Tsang, will chair the first meeting of the Task Force on Economic Challenges on November 3 in response to the global financial tsunami.

     Ten individuals from different sectors have joined the task force as members, while the Financial Secretary, Mr John C Tsang, will serve as deputy chairman.

     "The challenges ahead of us are daunting. The damage that the financial tsunami has inflicted on the global economy has yet to be fully revealed.  We need to evaluate the situation, consider ways to respond, identify new opportunities, and ultimately enhance our international competitiveness," the Chief Executive said.

     The task force members are:

Mr E Mervyn Davies      Chairman of the
                        Standard Chartered PLC
Dr Victor KK Fung       Group Chairman of the
                        Li & Fung group of companies
                        and Chairman of the Greater
                        Pearl River Delta Business
                        Council and the International
                        Chamber of Commerce

Prof Lawrence J Lau     Vice-Chancellor and President
                        of the Chinese University
                        of Hong Kong
Mr K C Leong            Chairman of Roctec Futures
                        Trading Company Limited and
                        former Chairman of the Hong
                        Kong Futures Exchange

Mrs Margaret Ko Leung   Group General Manager,
                        Global Co-Head Commercial
                        Banking, HSBC

Ms Ayesha Macpherson    Partner of KPMG

Dr Stephen Roach        Chairman of Morgan
                        Stanley Asia
Mr Shih Wing-ching      Chairman of Centaline
                        (Holdings) Company Limited
                        and Member of the Estate
                        Agents Authority and the
                        Hong Kong Housing Authority

Dr Patrick Wang         Chairman and Chief Executive
                        Officer of Johnson Electric
                        Holdings Limited and Chairman
                        of the Hong Kong Applied
                        Science and Technology Research
Mr Mathias Woo          Executive Director of
                        Zuni Icosahedron

     Mr David Burton, Head of the Asia and Pacific Department of the International Monetary Fund, will attend the first meeting of the task force to update members on the global impact of the current financial crisis.  The Task Force will also assess the impact of the financial tsunami on the local economy and consider ways to respond.  It will also formulate a work plan for the coming few months.  

     A public announcement will be made after the meeting.

     Relevant policy secretaries and other officials will join the deliberations of the task force on specific topics.

Ends/Tuesday, October 28, 2008
Issued at HKT 12:24


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