Tung Chee-hwa wants to retire

Hong Kong's leader said he tendered his resignation Thursday because of failing health and repeatedly denied speculation China pushed him out in a bid to tighten its grip on the former British colony and halt a movement toward greater democracy. After ignoring 10 days of rumors that he was quitting, &to=http:// english.pravda.ru/diplomatic/2002/07/31/33549_.html ' target=_blank>Tung Chee-hwa called a news conference and announced he wanted to step down with two years left in his term. He said his health problems began late last year. "If I continue as chief executive, I won't be able to handle it," he said. Tung said he tendered his resignation with China's leadership an hour before his announcement and that he hoped China would accept it "as soon as possible." He denied wide speculation that China pushed him out. China has "repeatedly affirmed the work that I and my colleagues and the government has done. That (a forced resignation) is not the case at all," he said. Tung's exit triggers Hong Kong's first leadership change since it returned to Chinese rule in 1997 under a "one country, two systems" formula, designed to give the territory a wide degree of autonomy, reports ABC News. Tsang has worked for the government for 38 years -- he has been the territory's treasury secretary, financial secretary, along with head of the civil service -- and has a reputation of being a pragmatist with a record of getting things done. As the first Chinese financial secretary after 150 years of British rule, he steered the territory of 6.8 million people through the &to=http:// english.pravda.ru/main/2002/10/14/38094.html ' target=_blank>Asian financial crisis, making a controversial decision in 1998 to intervene in the territory's markets to support the Hong Kong dollar. In 2001 he was appointed to chief secretary, leading Hong Kong's 180,000-strong civil service, and polls suggest he is popular with residents. The opera lover who is married with two sons also has supporters in big business, an important constituency in &to=http:// english.pravda.ru/fun/2002/02/06/26259.html ' target=_blank>Hong Kong. Casino magnate Stanley Ho and infrastructure tycoon Gordon Wu have both spoken in support of Tsang. He was overlooked for the top job in 1997 because, observers say, he was perceived as too close to the outgoing British administration. Now he better fits China's priorities after the often-turbulent rule of Tung, as Beijing counts on its core civil service for stability, tells CNN News. NR

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