Consensus reached: Financial Secretary Henry Tang meets the media after chairing the first meeting of the Committee on Economic Co-operation with the Mainland.

Although Hong Kong's economy has been making an unprecedented recovery in the last two years, new challenges will also present themselves in future, Financial Secretary Henry Tang says.

After chairing the first meeting of the Committee on Economic Co-operation with the Mainland today, he said: "We all agreed we should study both the forest as well as the trees and we must not look at trees and miss the forest, nor just study the forest and completely miss any of the trees."

He said members reached consensus on strategic issues that will be prioritised in the agenda, such as job creation, creative industries, high value-added logistics and solidification of talent.