John Tsang steps down from his post

John Tsang is now expected to announce his intention to run in the chief executive election. File photo: RTHK

The Financial Secretary, John Tsang, has stepped down from his post.



A government statement said the Chief Executive, CY Leung, received Tsang's resignation on Monday.



It also said Tsang will proceed on leave on Tuesday, and the Secretary for Financial Services and the Treasury, KC Chan, will act as the financial secretary.



Tsang is now expected to announce that he will run in the chief executive election in March.



Leung announced last week that he would not seek a second five-year term in office because of family reasons.



So far, only retired judge, Woo Kwok-hing, has expressed his intention to run.



Other potential bidders include the Chief Secretary Carrie Lam, former secretary for security and New People's Party chairwoman Regina Ip, and a former president of the Legislative Council Tsang Yok-sing.



John Tsang has been working as financial secretary since 2007. He had previously served as the private secretary to Hong Kong's last governor Chris Patten. He had also held the posts of the commissioner of the Customs and Excise Department and secretary for commerce, before becoming the director of the Office of the Chief Executive when Donald Tsang was the city's leader.