Academics, business magnates and think tank members are among 56 appointed members of an expert group designed to provide valuable insights and innovative ideas to Chief Executive John Lee.

The government on Tuesday announced the establishment of the Chief Executive's Policy Unit (CEPU) Expert Group, which has members from different backgrounds such as business, finance, professionals, think tanks and academia.

Their one-year appointments take effect immediately.

"I'm grateful to people with experience and great knowledge in various areas or insight to take up my invitation and become part of the policy unit," Lee said ahead of the announcement.

"As we've gone from chaos to order, and from stability to prosperity, I hope we can make up for the lost time in the shortest time frame and achieve results. I'm looking for policies that can cover the short term, medium term and long term. I want to create positive results for Hong Kong," he added.

The experts are divided into three groups for more focused discussions.

A group on economic advancement includes senior counsel Laurence Li, executive director of Sun Hung Kai Properties Adam Kwok and chairman of Henderson Land Development Martin Lee.

Among the members of a social development expert group are former president of the Our Hong Kong Foundation Eva Cheng and local delegate to the National People's Congress Nicholas Chan.

A group focusing on research strategy is joined by experts including mainland scholar Zheng Yongnian, consultant to the Chinese Association of Hong Kong and Macau Studies Lau Siu-kai, as well as associate dean of medicine at the Chinese University of Hong Kong Dennis Lo.

Stephen Wong, who heads the policy unit, welcomed the newly appointed members.

"In addition to holding regular meetings, the CEPU will also proactively consult relevant members on individual issues, with a view to tapping into the members' wisdom and experience as far as possible," Wong said.

Priscilla Lau, one of the experts on research strategy, said the group will meet twice a year, even though the CE might ask members for their thoughts on certain issues at other times.

The former National People's Congress member told RTHK she would share her thoughts on how to better integrate Hong Kong with the mainland.

"I hope based on my understanding of Chinese policies, I may study more in-depth about the system of the mainland, and find out the problems we probably will face and how to tackle those problems," Lau said.

On Zheng's appointment, Lau said it's natural for the CE to seek advice from outside the SAR, as Hong Kong is a free and open society.