David Li this morning informed me of his intention to resign from the Executive Council. Mr Li said that 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 and Exchange Commission. However, he regretted that the matter had caused public concern and thus wished to resign from the council. I appreciated Mr Li's situation and his priority accorded to the overall interest of the community.

I asked him to seriously reconsider his resignation. After serious consideration, he insisted on tendering his resignation letter to me this evening. 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 that he will continue to serve Hong Kong in other areas.