HONG KONG, March 17 (Xinhua) -- The Hong Kong Special Administrative Region (HKSAR) government on Friday announced the establishment of the Chief Executive's Council of Advisers, a high-level advisory body on the strategic development of Hong Kong.

The council is chaired by HKSAR Chief Executive John Lee, and consists of 34 members, with the participation of key government officials, the HKSAR government said in a statement.

The first term of the council will take effect immediately and end on June 30, 2025.

The statement said that the formation of the council is particularly timely and crucial, as Hong Kong is now on the path to resume normalcy after the pandemic, seeking to rekindle momentum to return to the international stage as the most effective gateway between the world and the country.

With its unique advantages and strengths under the "one country, two systems" principle and its strong fundamentals, the HKSAR government will spare no efforts in advancing Hong Kong's economic development and prosperity, tapping the enormous business potential arising from innovation and technology, and its further integration into the national development as well as deepening regional and global collaborations, it said.

Welcoming the advisers on board, Lee said, "Members of the council are all distinguished and eminent leaders in their respective fields, and some of them are internationally renowned scholars or experts."

"The council will be organized along three broad streams, namely economic advancement and sustainability, innovation and entrepreneurship as well as regional and global collaborations to facilitate more focused and in-depth dialogues," Lee was quoted as saying in the statement.