Gross domestic production (GDP) in Chinese mainland is expected to increase 7 percent every year and the annual growth of resident income will exceed 7 percent within the next five years, National Development and Reform Commission (NDRC) Minister Zhang Ping said in Securities Times.

With further industrialization, urbanization and expansion of domestic demands in Chinese mainland, Hong Kong will experience greater opportunities in trade, shipping, tourism, and retail sectors, the paper quoted Zhang, who made a speech at a forum in Hong Kong, as saying.

Zhang noted that the state of the global economy is now uncertain due to Standard & Poor's downgraded US Sovereign Credit Rating and the debt crisis in the Euro zone.

"Under such circumstances, Chinese mainland and Hong Kong should work more closely to remain financial and economic stability," Zhang said.