A senior Beijing official overseeing Hong Kong affairs on Tuesday said the territory’s economic development has been recognised internationally and that the SAR has unlimited opportunities.

Zhou Ji, executive deputy director of the Hong Kong and Macau Affairs Office, also hailed Chief Executive John Lee’s leadership in supporting the economy, seeking development opportunities and improving people’s livelihoods.

"Hong Kong's economy has continued to expand. Its external economic and trade relations have also continued to improve. And the capital market is full of vitality," Zhou told the China International Import Expo in Shanghai.

“These achievements have also been fully recognised and highly praised by the international community.”

Citing recent data on the city’s economy and competitiveness, Zhou added that Hong Kong is full of business opportunities and development potential.

He also said Beijing would continue to work with different departments to roll out measures beneficial to the SAR, while supporting cooperation between the city and Shanghai.

At the same event, Chief Executive John Lee said Hong Kong could become a financing platform for mainland enterprises. He said there are more than 2,000 mainland firms in the city with more than 1,400 listed on the city’s bourse.

"Among them were nearly 200 Shanghai companies that had a market value of more than HK$2 trillion. This fully demonstrates that Hong Kong can become an investment and financing platform serving the development of Shanghai and mainland enterprises," Lee said.

"We welcome more Shanghai and mainland enterprises to use Hong Kong to go global and achieve mutual development."

Lee led a delegation that included Financial Secretary Paul Chan and commerce minister Algernon Yau to attend the seventh edition of the expo, where he toured the Hong Kong exhibition area and reported to Premier Li Qiang on the city's development.

The finance chief, for his part, said Hong Kong is a prime treasury centre with a free flow of capital.

Chan added that the SAR could facilitate the allocation of funds for mainland firms that set up their headquarters in Hong Kong, while providing tax concessions.