Hong Kong leader
Donald Tsang Monday issued a bullish assessment of the city's prospects for
recovering from the global economic downturn in the Year of the Ox, dpa reported.
In his Chinese New Year address to the city of 6.9 million,
Beijing-appointed Tsang said: "Hong Kongers are no strangers to adversity.
We are used to thriving on challenges.
"I believe that if we pull together as a community, no
challenge will be too big for Hong Kong."
Tsang, speaking on the first day of the Year of the Ox in the
Chinese lunar calendar, said he believed the retail market was doing
"better than expected" despite the global slump.
Hong Kong officially entered recession at the end of 2008
when it recorded its second consecutive quarter of economic contraction. Unemployment
has climbed to more than 4 per cent.
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