Financial Secretary Antony Leung told a Legislative Council panel meeting that atypical pneumonia has hit Hong Kong's economy and he would work with local industries on finding ways to pull through.

Mr Leung is hoping to announce economic-recovery measures, after the virus outbreak is under control, in the near future.

The Financial Secretary admitted he was negligent in failing to declare his purchase of a new car ahead of the Budget address - which called for higher taxes on new vehicles.

During a Constitutional Affairs Panel meeting about the incident, he said the move made people suspect him of having a conflict of interest. 

However, he reiterated that he did not believe he had a problem with his integrity.

Asked why he did not declare the car purchase when another official declared one at a March 5 meeting of the Executive Council, Mr Leung said he had not linked his private matters, such as buying a family car, with his business.

He was also occupied with the Budget which was to be presented to LegCo on March 5, he said.