Chief Executive John Lee said on Tuesday that Hong Kong should capitalise on the measures announced by Beijing in supporting the local economy.

He said an increase in duty-free allowance for mainland residents was something that was not easy to come by.

Since Monday, the amount was tripled from 5,000 to 15,000 yuan.

"This has been achieved after a lot of efforts by different ministries and authorities of the central government," Lee told reporters before the weekly Executive Council meeting.

"I think it's important that we make good use of the new arrangement so that the benefits will be realised to its best potential."

The CE also said officials will keep reviewing different measures and discuss with the central authorities ways to enhance Hong Kong's economic development and tourism.

He said as Hong Kong's economy is in a transitional phase, people have to accept that and find ways to improve.

"We can't rest on our own laurels to just think of present success or past successes... So I urge everybody to think of innovative ways to capitalise on the new measures that have been offered to Hong Kong."

Lee added that various measures in support of Hong Kong can bring major synergy effects.