The Chief Executive, John Lee, on Sunday said Hong Kong currently has more opportunities than challenges, and the city has to grasp the chance to create more achievements.

In a video marking two years of the current administration, Lee said now is the time for Hong Kong to advance from stability to prosperity.

"There are more opportunities than challenges. Hong Kong society is generally safe and stable now, so it's the best time for development," he said.

"We need to be innovative while having bottom-line thinking. We have to make timely and appropriate measures according to local conditions when formulating policies."

Lee added that there were still external challenges, but that Hong Kong would make best use of its advantages.