Financial Secretary Paul Chan said on Sunday that officials will set up a new office in the coming months, to plan and implement policies on digital economy and developing Hong Kong into a smart city.

The idea of forming the office was first raised in the Chief Executive's Policy Address last year.

Writing on his weekly blog, Chan said a committee on digital economic development has provided suggestions to the administration on how to push forward high-quality growth.

"[We will] strengthen digital infrastructure, including the usage and coverage of the 5G network, encourage the setting up of highly efficient computing and digital centres, and the further promotion of digital payment," the minister said.

He added that officials have been helping local firms with digital transformation, and facilitating the cross-border flow of data between the SAR and the mainland.

Chan stressed the world is in the midst of a wave of technological change, with innovation and technology at the core of the drive for high-quality economic development.