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Hong Kong Special Administrative Region Chief Executive Donald Tsang put forward an action agenda on Monday, mapping out how Hong Kong can leverage the Chinese mainland's 11th Five-Year Program.

This blueprint is based on 50 strategic recommendations and 207 specific measures presented by four focus groups set up during last September's economic summit.

Tsang noted this was the first time the government had drawn on collective wisdom from industrial, commercial and professional sectors to come up with a detailed plan and implementation schedule in developing economic development plans for Hong Kong.

After the Asian financial turmoil, Hong Kong is searching for its way forward and finally comes to a consensus that its strengths lie in services sectors -- finance, logistics, IT, trade, shipping and tourism.

Under the "one country, two systems" principle, the central government has highlighted Hong Kong's role and the direction of the city's economic development in its 11th Five-Year Program.

During a special economic summit on September 11 last year, the Chief Executive established four focus groups to consider how best to develop financial, logistics, tourism and IT industries and preserve the city's status as an international financial, trade and shipping center.

The four groups -- Trade & Business; Financial Services; Maritime, Logistics & Infrastructure; and Professional Services, Information & Technology, Tourism -- submitted their reports, including an action agenda, to the Chief Executive on Monday.

"The action agenda not only outlines a blueprint and sets a direction but also lists a detailed schedule of division of labor and a timetable to enable the government, public corporations, industrial and commercial sectors, professionals, labor sector, academia and the community to know how to do their part in implementing the recommendations to achieve the effect of 'know it, do it'," Tsang said.

"I believe the recommendations are conducive to the country at large and our neighboring provinces and cities, creating a win-win situation," he said.

The agenda will be handed over to the next term of government as a reference on economic strategy for the next five years and also be submitted to the central government.