Carrie Lam brings finance heavyweights into ExCo

Chief Executive-designate Carrie Lam Cheng Yuet-ngor introduced the widely representative team that comprises her top decision-making body on Thursday, featuring leaders from the financial sector and representatives across political affiliations.

This is in a move to realize her vision of improving economic development and to rebuild a harmonious society.

Lam’s appointment of 16 non-official members to the Executive Council followed her cabinet announcement on Wednesday.

“ExCo members are the CE’s most important policy advisers,” Lam stressed. She expressed gratitude to all for accepting her invitation.

“I am sure their rich experience in various fields will provide valuable inputs to the making of important policy decisions,” Lam said.

Leading the group was incumbent ExCo member and Lam’s election campaign office head Bernard Charnwut Chan.

The president of both Asia Financial Holdings and Asia Insurance was promoted to ExCo convener.

He was joined by two other finance heavyweights — newcomer Joseph Yam Chi- kwong, former chief executive of the Hong Kong Monetary Authority, the city’s de facto central bank, and incumbent member Laura Cha Shih Maylung, chairwoman of the Financial Services Development Council. The three are expected to help Lam strengthen the city’s financial center status.

Newcomers include Senior Counsel Ronny Tong Ka-wah, a former lawmaker from the “pan-democratic” camp. The presence of the founder of moderate think-tank Path of Democracy showed Lam intended to include figures from a wider range of the political spectrum into her governing team.

Tong said after receiving the appointment that he will not change his political views after joining the body. He said he would bring the “pan-democrats’ ” voices into the government and help improve the administrative-legislative relationship.

Lam said on Wednesday after the central government appointed the principal officials of the new government that she will lead the team to improve economic development and rebuild a harmonious society with a new style of governance.

Having worked for a long time on the city’s social welfare, Lam also brought in Lam Ching-choi. He is chairman of the government’s Elderly Commission. The CE-designate said in her election campaign that she will continue her efforts in poverty alleviation and elderly care.

One of Lam’s rivals in the CE election in March, lawmaker and New People’s Party Chairwoman Regina Ip Lau Suk-yee had also accepted Lam’s invitation. Ip served in CE Leung Chun-ying’s ExCo before quitting it to join the race for the city’s top position.

Ip said after the announcement of her appointment that she was moved by Lam’s sincerity and rejoined ExCo after consulting her party members.

Ip said she will help Lam’s administration promote better policies for Hong Kong and continue to carry out her duty as a legislator in monitoring the administrative performance.

The ExCo, formed by the principal ministers and 16 non-official members, is set to assist the CE in policymaking. The members work on the principles of confidentiality

I am sure their rich experience in various fields will provide valuable inputs to the making of important policy decisions.” Carrie Lam Cheng Yuet-ngor, Chief Executive-designate

and collective responsibility.

According to the Basic Law, members of the ExCo have to be Chinese citizens who are permanent residents of the Hong Kong Special Administrative Region with no right of abode in any foreign country.