Meet the press: Anna Wu, Lau Wong-fat, Prof Lawrence Lau and V Nee Yeh flank Chief Executive Donald Tsang at a media briefing.

Chief Executive Donald Tsang today announced the appointment of five members to the Executive Council - Lau Wong-fat, Prof Lawrence Lau, Anna Wu, Marjorie Yang and V Nee Yeh. Their appointment will take effect from tomorrow.

At a press briefing to introduce the members, Mr Tsang hailed them as "astute, perceptive and committed to Hong Kong. They also have a deep understanding across the spectrum of public affairs ranging from district affairs, social policies, business and financial services to economics and education."

The five come from varied backgrounds, he noted, and have excelled in their respective fields. "Yet they share a common strength: They all have a thorough appreciation of the rapid development of the Mainland. This will certainly have a positive impact on Hong Kong's strategy in participating in the development of the entire country and the Pearl River Delta region in particular," he said.

"Their professional knowledge and rich experience in public service will no doubt help the Government formulate policies as responsive as they are visionary."

Hong Kong is in the grip of the global financial turmoil, so the Government must formulate solid and timely policies while also riding the wave of opportunities amid the crisis. Mr Tsang said the fact that the new appointees accepted the appointment at this critical juncture "is reflective of their sense of duty to Hong Kong as well as their courage to rise to the challenge".

In reply to a reporter's query, Mr Tsang said he had had no difficulty identifying these suitable candidates to join the team. The most important criteria was that they offer strong ability with a full commitment to Hong Kong and that they support his manifesto, which he presented in his 2007-08 Policy Address.

The Chief Executive expressed gratitude to the five outgoing ExCo members - Rafael Hui, Andrew Liao, Bernard Chan, Henry Fan and Victor Lo. He said it was a pleasure to have worked with them and he admired their wisdom and selfless dedication.

Marjorie Yang was out of town and could not take part in a question-and-answer session with the media. Mr Tsang praised her as "an outstanding industrialist adept in the application of technology. She is well equipped to make contributions to public service in areas such as enhancing Hong Kong's competitiveness, economic collaboration with the Mainland, the environment and people's livelihood."

The other four members confirmed their commitment to serving Hong Kong and expressed their willingness to provide useful advice based on their experience to help the city ride out the financial turmoil.

Following is  a list of biographical notes on the five new members:

Aged 72. Mr Lau is a businessman. He is also a member of the Chinese People's Political Consultative Conference, Legislative Councillor elected in the Heung Yee Kuk Functional Constituency, Chairman of Heung Yee Kuk and Tuen Mun District Council, and Honorary Court Member of the Hong Kong University of Science & Technology. He was awarded a Grand Bauhinia Medal in 2005.

Aged 64. Professor Lau obtained his doctoral degree from the University of California at Berkeley. He taught at the Economics Faculty of Stanford University from 1966 to 2004 and had been a professor since 1976. Prof Lau has been the Vice-chancellor of the Chinese University of Hong Kong since 2004. He is a member of the Chinese People's Political Consultative Conference. He serves as a member on the Commission on Strategic Development, Task Force on Economic Challenges, Exchange Fund Advisory Committee, Steering Committee on Innovation & Technology, Advisory Committee on Corruption of the Independent Commission Against Corruption and Honours Committee.

Aged 57. Ms Wu is a solicitor. She graduated from the Faculty of Law of the University of Hong Kong. She was a Legislative Councillor, Chairman of the Equal Opportunities Commission, of Consumer Council and of Operations Review Committee of the Independent Commission Against Corruption. Ms Wu was also a member of the Hospital Authority, Director of the Hong Kong Mortgage Corporation Limited, Non-executive Director of the Mandatory Provident Fund Schemes Authority and of the Securities & Futures Commission. She is currently a member of the Law Reform Commission, Council Member of the Hong Kong International Arbitration Centre and Advisor to the Law School of Shantou University. Ms Wu was awarded a Silver Bauhinia Star in 2000.

Aged 56. Ms Yang obtained her Bachelor degree of Science in Mathematics from the Massachusetts Institute of Technology and her Masters Degree in Business Administration from Harvard Business School. She is Chairman of the Esquel Group and Independent Non-executive director of HSBC, Swire Pacific and Novartis AG. Ms Yang is a Hong Kong Member of the Chinese People's Political Consultative Conference, Vice-chairman of the China Association of Enterprises with Foreign Investment and Chairman of its Textile & Clothing Sector Committee. She is also Chairman of the Hong Kong-U.S. Business Council, Member of the Massachusetts Institute of Technology Corporation, of the Asia Advisory Committee of Harvard Business School and Honorary Court Member of the Hong Kong University of Science & Technology.