Financial Secretary Paul Chan said the resumption of multi-entry permits for Shenzhen residents visiting Hong Kong will boost the local tourism, retail and catering industries.

From Sunday, more than 10 million people in Shenzhen will be allowed to visit the SAR as many times as they like, reversing a policy that limited such trips to once per week.

Writing on his weekly blog, Chan said the move will make it easier for people to travel and strengthen economic ties between Hong Kong and Shenzhen.

A series of measures by the central government to support the SAR's tourism and efforts by local shops and restaurants to improve their services will boost the Hong Kong economy, Chan added.

"Hong Kong's economy has shown moderate overall growth this year, but consumption and export of services still need further improvement," he wrote.

The finance chief also noted that the new three-runway system at the airport and plans to increase international destinations will consolidate the city's position as an international aviation hub.