No regrets or looking back for ex-Hong Kong financial secretary John Tsang as he focuses on technology and youth ventures
In wide-ranging interview, political veteran whose bid last year to lead the city fell short says he now balances three projects with eye on ‘meaningful returns’
“I no longer pay much attention to political matters,” Tsang said with a mild grin peeking out beneath his signature moustache that earned him the nickname “Uncle Pringles”.
The election contest last year proved a defining moment. Tsang garnered 365 votes against Lam’s 777 from an Election Committee dominated by Beijing loyalists. This was despite all major polls in the run-up to the vote showing him to be the most popular candidate.
“I have never thought about coming back for any chief executive race because I have moved on to a different stage of life,” Tsang said with conviction. “I don’t dwell on the past.”
Apart from his three grandchildren, whom he mentioned twice, Tsang revealed he had a number of projects under way. He recently joined a fintech-focused bank called Ion Pacific as its vice-chairman. In addition, he invested in a Hong Kong-based app developer of authentication technology for online transactions. And he set up a non-profit organisation to help start-ups for young people.
With the freedom to choose “what he likes to do” since leaving his 35-year government career, he described feeling drawn to investing in the commercial app developer BVL, saying its work combined “elements of youth, IT and Hong Kong”.
“After I left the government, I didn’t want to just talk about technology,” Tsang said. “I wanted to take action.” Back in 2016, during his final Hong Kong budget address, he floated a blueprint to create a new economic order for the financial services-oriented city.
He is calling for funding of about HK$5 million for his charity group, making use of his personal connections to help young people establish their businesses and expand their start-ups. The group is called Uncle Pringles Cooperative in Chinese and Esperanza in English.
And with another grin, it appeared clear that Uncle Pringles had moved on from his old career with no regrets.