Chief Executive Donald Tsang has accepted David Li's resignation from the Executive Council.

Issuing a statement tonight, Mr Tsang said Mr Li expressed his intention to resign this morning.

"Mr Li said the issue of the trading in the shares of Dow Jones & Company had already come to an end following his settlement with the US Securities & Exchange Commission. However, he regretted the matter caused public concern and thus wished to resign from the council," Mr Tsang said.

Appreciating Mr Li's situation and his priority accorded to the overall interest of the community, the Chief Executive asked him to re-consider his resignation. However, Mr Li insisted on tendering his resignation.

"I respect Mr Li's decision and have accepted his resignation. Since Mr Li became an ExCo member in 2005, he has given invaluable advice and contributed to the Special Administrative Region Government's effective governance. I will miss him greatly and hope he will continue to serve Hong Kong in other areas."

Praising Mr Li's contribution in the areas of monetary services and education, Convenor of the Non-official Members of the Executive Council Leung Chun-ying hoped he will continue to serve Hong Kong people and wished him happiness in the years to come.