Hong Kong's top financial official said  Wednesday that Hong Kong will foster its cooperation with neighboring Guangdong Province and the Macao Special Administrative Region.

"My confidence in Hong Kong's future is buttressed by our advantage in having the mainland as our hinterland," said John Tsang, financial secretary of the Hong Kong Special Administrative Region, when delivering the 2009-2010 budget speech at the Legislative Council.

Guangdong and Hong Kong have agreed to focus on four priority areas of cooperation, namely: the financial industry, service industries, infrastructure and town planning, and innovation and technology.

At the same time, both sides have proposed to incorporate the concept of transforming the Pearl River Delta region into a green and quality living area into the national 12th Five-year Plan.

Hong Kong will expedite the study and implementation of various major cross-boundary infrastructure projects, including the Hong Kong-Zhuhai-Macao Bridge, the Guangzhou-Shenzhen-Hong Kong Express Rail Link, the Hong Kong-Shenzhen Airport Rail Link, and the Liantang/Heung Yuen Wai Boundary Control Point.

Hong Kong and Macao have always had a close relationship and both governments aim to strengthen our ties further, Tsang noted.

"We consider there is a need to strengthen our links with Macao in economic and other areas, especially in tourism and convention business, cross-boundary infrastructure and economic development in order to achieve synergy through complementing each other's strengths," he said.