Financial Secretary Paul Chan on Sunday said Hong Kong's economy is on an upward trend despite challenges the SAR has faced since it was established.

He said Hong Kong's GDP has more than doubled since 1997, exceeding HK$2.8 trillion, with an average annual growth rate of 2.8 percent.

The financial chief pointed out the rate is higher than the 1.9-percent average among other advanced economies.

Chan said the government will make use of the mainland's steady development and large market to support Hong Kong's status as an international financial centre.

And he said the SAR would also contribute to the country.