Fellow Election Committee member Allen Shi Lop-tak, president of the Chinese Manufacturers' Association of Hong Kong, agreed that its members could play a role in information dissemination, consultation and supervision to ensure that the city's businesses will make use of the opportunities presented by national development.

"To align with and make a full contribution to the national development plan, we should likewise draft a forward-looking and comprehensive re-industrialization policy and integrate it into the 'dual circulation' strategy and the Guangdong-Hong Kong-Macao Greater Bay Area development plan," Shi said.

Shi said he will use his new political post to propose that the Hong Kong government devote more resources toward helping traditional manufacturers in the SAR to upgrade and transform, which he believes will "facilitate our re-industrialization and ultimately help to overcome our structural weaknesses".

Chan Ching-chuen, a Hong Kong academician of the Chinese Academy of Engineering in Beijing, said the revamped committee would restructure the political landscape and usher in a new era of development in Hong Kong.

Noting that the election was held in an environment of openness, impartiality and fairness, Chan said that it was a milestone for Hong Kong, because it ensured that patriotic candidates could get a chance to transform society and map out Hong Kong's future.

Oswald Chan in Hong Kong contributed to this story.