The government should send delegations to foreign countries to explain Hong Kong's home-grown national security legislation, a former commerce official said on Sunday.

Frederick Ma, a former secretary for commerce and economic development, accused several countries of "double standards" by criticising the city's new law, even though they had their own security legislation.

The Safeguarding National Security Ordinance formally took effect when it was gazetted on Saturday – four days after it was unanimously approved by the Legislative Council.

Speaking on a Commercial Radio programme, Ma said the SAR must maintain contact with businesses overseas, especially those in the West.

"Of course the business community knows what's going on. So I think there's no need to pay too much attention to what these politicians say," he said.

"But I wish to suggest to the government that, although we've been subject to many sanctions, the business sector and the government should form delegations to go to Western countries to explain what the Article 23 legislation is all about."

On Hong Kong's development as a financial hub, Ma said the territory must strive for self-improvement and maintain a sense of urgency.

"When you look at Singapore, its stock market used to be very weak and small. But it took advantage of our Covid situation – when we were sick – and reopened its borders earlier than us. Its wealth management absorbed a lot of funds, so it beat us in some aspects," he said.

"But this proves that many people wish to take the bread out of our mouth...so we must continuously strive to improve and not be complacent."