HONG KONG - Leung Chun-ying, former Convenor of the Non-Official Members of the Executive Council of Hong Kong (Exco), announced here Sunday he would run for the post of Chief Executive of the Hong Kong Special Administrative Region.

Former convenor of Hong Kong's Executive Council, Leung Chun-ying, attends an election rally after announcing his candidacy for the chief executive election in Hong Kong Nov 27, 2011. [Photo/Agencies]

Leung made a short speech declaring his decision to run for the election. He said that by jumping at chances and meeting challenges ahead, he will work with the Hong Kong people to make the city more prosperous and just.

Leung resigned as Convenor of the Non-Official Members of the Exco on October 3 to stand for election as Chief Executive next year. According to the city's Chief Executive Election Ordinance, candidates for chief executive must resign from government posts if they are to be selected for the job.

Leung, 57, had joined the Exco in 1997 and became the Convenor of the Non-Official Members of the Exco in 2005.

An election will be held on March 25, 2012 to select the Chief Executive of Hong Kong. The incumbent Chief Executive Donald Tsang is barred from seeking a third term.

According to Hong Kong's Basic Law, the term of office of the city's Chief Executive shall be five years. He or she may serve for not more than two consecutive terms.