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Following are the biographical notes on the new appointees to the Executive Council, Mrs Laura Cha and Mr Bernard Chan:

Mrs Laura Cha

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Aged 54. Mrs Cha was Vice-Chairman of the China Securities Regulatory Commission (CSRC) from 2001 to September, 2004. She was appointed to the post by the State Council in early 2001 and became the first person outside the Mainland to join the Chinese Government at the vice-ministerial rank. At the CSRC, Mrs Cha's major efforts were on the reform of the public offer mechanism and improvement of corporate governance in Chinese listed companies.

Before her post at CSRC, Mrs Cha was with the Securities and Futures Commission (SFC) in Hong Kong from 1991 to early 2001. She headed the Corporate Finance Division at the SFC for five years before being appointed Deputy Chairman in 1998. In her 10 years with the SFC, Mrs Cha played a key role in all the major reforms of the Hong Kong securities market, including the establishment of the regulatory framework for the listing of Chinese state-owned enterprises in Hong Kong in 1993; as well as the demutualisation and merger of the stock and futures exchanges and clearing houses of Hong Kong in 1999.

Mrs Cha was educated in the United States, with a Bachelor of Arts degree from the University of Wisconsin and a law degree from the University of Santa Clara. She practised law in San Francisco and in Hong Kong since the 1980s. She was awarded a Silver Bauhinia Star medal in 2001. Mrs Cha is a Council member of the Hong Kong University of Science and Technology, and a former member of the Committee of 100 in the United States. She was awarded an Honorary Doctoral Degree by the Hong Kong University of Science and Technology in 2002.

Mrs Cha is currently an independent Non-Executive Director of Johnson Electric Holdings Ltd and the Hongkong and Shanghai Banking Corporation Ltd.

Bernard Chan

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Aged 39. Mr Chan is a Legislative Councillor. Professionally, he is Executive Director of the Asia Financial Group, President of the Asia Insurance Co. Ltd; Director of the Asia Commercial Bank Ltd and Adviser to the Bangkok Bank Public Co Ltd., Hong Kong Branch.

Mr Chan has extensive experience in a wide range of community services. He is Chairperson of the Hong Kong Council of Social Service; Chairman of Hong Kong -Thailand Business Council; Chairman of the Standing Committee on Disciplined Services Salaries and Conditions of Service, Director of Hong Kong Mortgage Corp. Ltd.; member of Economic and Employment Council; member of Greater Pearl River Delta Business Council; member of Committee on Financial Assistance for Family Members of Those Who Sacrifice Their Lives to Save Others; Vice-chairman of Community Investment & Inclusion Fund Committee; council member of the Lingnan University; Chairman of Oxfam Trailwalker Advisory Committee; and Vice-chairman of Oxfam Hong Kong.

He also participates actively in public services relating to insurance industry. He serves on the Insurance Advisory Committee, the Mandatory Provident Fund Schemes Advisory Committee, and the Insurance Intermediaries Quality Assurance Scheme Steering Committee.

Ends/Tuesday, October 12, 2004

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