Tsang looks to national spirit to see off turmoil
Tenacity key asset in fighting financial crisis
Hong Kong should reflect on the 'indomitable spirit of the Chinese nation' amid the intensifying global financial crisis, Chief Executive Donald Tsang Yam-kuen said in his speech to mark National Day.
Mr Tsang described the past year as 'a year of joy and sorrow' for China with 'mixed feelings' for the Chinese people.
'From the earthquake in Wenchuan , to the staging of the Olympic Games in Beijing and the successful launch and return of Shenzhou VII, the Chinese nation has once again showed the world our tenacity and perseverance.
'I am sure that having been through these trials and tests we have emerged even stronger to face the challenges ahead and to make greater contributions to our country's future.
'As we face the financial crisis, such tenacity and perseverance are particularly meaningful to us,' Mr Tsang said.
He also pledged Hong Kong's continued support in the mainland's development.
Hundreds of political, business and social leaders attended a flag-raising ceremony in Wan Chai's Golden Bauhinia Square, cheered on by people who gathered nearby.
Some participants said they were thrilled to see the nation's space achievement, although others expressed concerns of an imminent financial meltdown in the stock and property markets.
Speaking after the National Day reception, Leung Chun-ying, convenor of the Executive Council, pointed to the Monetary Authority's move on Tuesday to quickly provide credit to local banks. He said Hongkongers should remain rational in times of economic turmoil.
'What is important to the people is that they should be cautious when making investments. They should also deal with market rumours rationally,' he said.
League of Social Democrats lawmaker Leung Kwok-hung, who on Monday was sentenced to perform 60 hours of community service for an unlawful protest last year, was expelled from the reception venue by security guards when he began shouting 'End of one-party rule! Fight for 2012 dual universal suffrage!' following Mr Tsang's speech.
Some deputy ministers and political assistants, who had earlier attracted public criticism over their salaries, were also at the ceremony. Deputy ministers were seated with permanent secretaries right behind their bureau heads during the ceremony.
Last night thousands of spectators crowded the harbourfront to watch fireworks to celebrate the 59th anniversary of the founding of the People's Republic of China.
