Local designers and creators could reach new horizons by taking advantage of the city's connectivity with the mainland and the rest of the world, Financial Secretary Paul Chan said on Sunday.

The finance chief also noted that a number of designers in Hong Kong have become industry leaders amid the rise of the "goods economy" – a market centred on products tied to the universe of anime, comics and games.

In his weekly blog post, Chan said several designer toys made by Hong Kong creators have been hugely popular in the region, with the cultural products bringing in value worth hundreds of millions of dollars.

"Hong Kong's designers and creators have a broad vision, and they understand the culture and the needs of the mainland, the Asian and even the international markets," he wrote.

"Taking advantage of Hong Kong's connectivity to the huge markets on the mainland and the world, as long as they create IP products that are unique, personalised and resonate with the public, they will have a chance to reach new horizons."

The cultural and creative industries are crucial to the SAR's social and economic development and are an important component of "Brand Hong Kong", Chan said.

He added branding the city is not only about offering products and services, but also providing unique experiences that demonstrate diversity and promote cultural exchanges.