Financial Secretary Paul Chan on Sunday said President Xi Jinping’s speech and Premier Li Qiang’s work report at the "two sessions" in Beijing offer guidance to the SAR government on how to boost the city's economy.

Writing on his blog, Chan said the mainland's economic growth will serve as a strong foundation for the SAR's development.

He said the mainland's robust economic fundamentals, comprehensive policy framework, strong leadership and unity will contribute to its goal of achieving economic growth of five percent this year.

The finance minister said the SAR government will optimise productivity chains and foster the development of the digital economy, aligning with the central authorities' call to boost the development of "new quality productive forces” – a new economic model proposed by Xi which focuses on innovation in advanced sectors.

Chan also said that Beijing expanding its "high-quality opening-up" policy, with the removal of restrictions on foreign investment in manufacturing, will bring more opportunities for Hong Kong and attract an influx of businesspeople to the SAR.

He also said Hong Kong can prioritise its development and economy once Article 23 national security legislation is enacted.