Public views are welcome on the government's upcoming budget, with officials launching a consultation exercise on Wednesday.

Financial Secretary Paul Chan said officials aim to gather views from different sectors, engage with the public and draw on collective wisdom.

"We welcome all members of the community to actively share their views, so that we can work together to build a better and more vibrant Hong Kong," he said in a statement.

Chan said being as next year is the first for the country's new Five-Year Plan, there are several key issues to enable Hong Kong to further integrate into the country's development and make more contributions.

"These will include how Hong Kong can further broaden and deepen its economic development, accelerate the nurturing and application of [innovation and technology] and expedite the upgrading of industry structures," he said.

Other important areas include creating more high-quality jobs and ensuring that the benefits of economic progress and diversification are widely shared across the community.

Chan said despite considerable external challenges, the SAR's economy has shown strong resilience and is making steady progress.

He said there are favourable conditions for the SAR's continued development, including government efforts to reinforce and enhance Hong Kong's status and competitiveness as an international financial centre, as well as comprehensive policies to drive economic and innovation and technology development.