The government will provide more support for elite athletes and add more mega sports events to Hong Kong's calendar, Chief Executive John Lee said on Tuesday.

Speaking to reporters before the Executive Council meeting, Lee praised the Hong Kong team at the Asian Games for their performance and medal haul so far.

He said efforts are underway to boost the sports industry, such as the Kai Tak Sports Park which is expected to open by the end of next year.

"We make use of the elite athlete fund to provide funding to the sports institutes to train about 1,300 local elite athletes. For this year, we have allocated more than 860 million dollars. And the relevant construction work is being expedited to be completed by 2024," he said.

The CE added that the SAR will host a number of international sports tournaments in the coming months, including in tennis, swimming and squash.

Hong Kong currently ranks fifth in the Asian Games standings, with three gold, four silver and seven bronze medals.