The former textile tycoon was promoted from Secretary for Commerce, Industry and Technology to finance chief on August 4, 2003, replacing Antony Leung. Leung resigned on July 16, 2003 in the wake of protests over the government's handling of a controversial subversion bill, its failure to revive the economy and his avoidance of taxing his new car.
Tang comes from a prominent family which runs a textile empire and traces his roots back to Shanghai.
He has extensive ties with Chinese leaders. His father Tang Hsiang-chien is a former standing committee member of the Chinese People's Political Consultative Conference, the advisory body to the National People's Congress of the People's Republic of China.
Tang took up his commerce post in July 2002 as part of a line-up of new secretaries aimed at improving the government's transparency. He is a long-time friend of Chief Executive of Hong Kong Tung Chee Hwa.
Tang cut his teeth in the private sector. He was named as Global Leader for Tomorrow by the World Economic Forum in 1993 and won the Young Industrialist of Hong Kong award in 1989.
He has been part of Tung's cabinet since the former British colony was handed to the PRC in 1997.
Before that, he served as a member of the Legislative Council of Hong Kong from 1991, and was on various government boards and public bodies.
Married with four children (three daughters and a son), Tang holds a Bachelor of Arts Degree from the University of Michigan.
Tang has been a member of the Executive Council since 1997. He served as a member of the Legislative Council for seven years from 1991 to 1998. Tang has also served extensively on various government boards and public bodies, including the Trade Development Council, Town Planning Board, University Grants Committee, and Council of the City University of Hong Kong.
Before joining the Government in 2002, Tang served as the Chairman of the Federation of Hong Kong Industries between 1995 and 2001. He was also a Committee Member of the Hong Kong General Chamber of Commerce and a Steward of the Hong Kong Jockey Club.
See also: Antony Leung, Politics of Hong Kong, Executive Council of Hong Kong, List of China-related topics,