First Term
In early 1997, Tung saw his victory in the first Chief Executive election, in the voting conducted by 400 committees of electoral college whose members are appointed by the Chinese Government.
The government pledged to focus on three policy areas: housing, the elderly, and education. Measures on housing included a pledge to provide 85,000 housing flats each year so as to resolve the problems of soaring property prices. The Asian financial crisis that hit Hong Kong in months after Tung took office made this objective almost immediately redundant and, in fact, it was a collapse in property prices that became a far more pressing problem in the years between 1998 and 2002.
Tung took office on 1 July 1997. His first term was significantly – and negatively – impacted by the Asian financial crisis and there was criticism by the general public of his style of governance. Job losses and plummeting values in the stock and property markets, combined with controversial economic policies (which were called crony capitalism at the time), the people of Hong Kong started to question Tung and the HKSAR government.
During Tung's first term the government proposed a number of controversial infrastructure and reformation projects including technology park, a science park, a Chinese medicine centre and the Disney theme park. Tung's decisions were somewhat questioned by the central government, including President Jiang Zemin.
Questions arose over Tungs decision to grant the Cyberport Project to Richard Li, son of tycoon Li Ka-shing, without the benefit of an open tender.
The way in which the Walt Disney Company's land grant for its theme park on a 50-year lease apparently disrupted the market, and for studying the possibility of setting up a casino in Hong Kong. His administration was seen as troubled, particularly during the confusion of the first days of the new airport, the mis-handling of the avian influenza epidemic, declining standards due to education reforms (specifically teaching in the Cantonese "mother tongue" and mandatory English examination for teachers), the Right of abode issue, and his disagreement of political views with the popular then Chief Secretary, Anson Chan. Tung's popularity plummeted with the economy, to 47% satisfaction at the end of August 2002.
Read more about this topic: Tung Chee Hwa
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