Foreign Minister Wang Yi has arrived in Hong Kong to attend Friday's signing ceremony of the Convention on the Establishment of the International Organization for Mediation.

Representatives from more than 60 countries will be on hand for the ceremony.

Chief Executive John Lee said on Thursday that the authorities are willing to recommend talent to join the international mediation body that will be based in Hong Kong.

At a question-and-answer session in the legislature, Lee stressed that the body will allow Hong Kong to strengthen its collaborative role in the international community, while also bringing major economic benefits.

"This is a momentous event. The organisation will help us bring together talent from different places," he said.

"We will also be able to expand the influence of the organisation across the world. We can recommend talent to our country or to the organisation... if people have talent in mind, they're welcome to recommend such talent to us."

Separately, lawmakers said Hong Kong could boost its status as an education hub, noting a recent legal tussle between the US government and Harvard University.

Election Committee lawmaker William Wong, who's also an academic, said the SAR can host more international academic conferences.

Lee said in response that as a pluralistic society, all sorts of conferences should be held here.

The CE also said he agreed with a suggestion from the DAB's Edward Lau that the authorities should prioritise the development of a university town in Hung Shui Kiu, as part of the Northern Metropolis development.

Lau also proposed the setting up of a statutory authority to manage the development of the metropolis, mirroring the situation in Qianhai, Shenzhen.

He also called for enacting a specific Northern Metropolis law, so that the legislature would not have to go through amendments of different laws related to the area in future.

Lee thanked Lau for his proposals.