Conference (MC6) of the World Trade Organization (WTO) held in Hong Kong from 13 to 18 December 2005. For his outstanding performance in the WTO, he even earned praise Chinese Communist Party from general secretary Hu Jintao. Tsang then became the director of the Office of the Chief Executive, working directly for his friend Donald Tsang. He held the post from 2006 to June 2007. Financial Secretary In 2007, Tsang was appointed Financial Secretary of Hong Kong when Donald Tsang began his second term. In 2012, he was re-appointed as the territory's financial chief by Leung Chun-ying. Although Hong Kong's economy generally grew at a stable rate under Tsang and the government recorded surpluses every year, Tsang was criticised for his drastic miscalculations of the government's surpluses and his fiscal conservative philosophy. After seven consecutive years of budget surplus, Tsang's 2011 annual budget came under heavy fire from the Legislative Council. His original proposal of putting HK$6,000 directly into workers' Mandatory Provident Fund (MPF) accounts was condemned. About 10,000 protesters demonstrated in Central. The mismanagement of the funds led to a number of controversies. Tsang eventually backed down and carried out the Scheme $6,000 to give a HK$6,000 cash handout to all adult holders of a Hong Kong permanent identity card. In the same budget, Tsang initiated iBond, a Hong Kong dollar retail inflation-indexed bond to further develop the local bonds market, attracting 155,835 applications in 2011, which rose to 525,359 by 2013. In January 2011, the government's IT chief information officer Jeremy Godfrey stepped down from his job for "personal reasons". On 10 May 2011, in a letter to the Legislative Council, he said the real reasons why he resigned were related to Permanent Secretary for Permanent Secretary for Commerce and Economic Development Elizabeth Tse and John Tsang. It turns out that there had been arguments over the implementation of the Internet Learning Support Program (ILSP). It was revealed that Tse and Tsang had forced the HK$220 million contract to be awarded to a company called Internet Professional Association (iProA). This company was founded by Elizabeth Quat, a member of the pro-Beijing Democratic Alliance for the Betterment and Progress of Hong Kong (DAB). Tsang responded that the accusations were ridiculous and absurd. Godfrey then stated that Quat herself had nothing to do with the ILSP controversy, but said the IT decision was politicised. In the 2013 budget, Tsang said