The Hong Kong government will establish a communication and dialogue platform to hold talks with protesters, said Chief Executive Carrie Lam Cheng Yuet-ngor at a press conference on Tuesday.
Lam said she believes the mechanism will be a responsible response to protesters' concerns.
Lam also said the government will make adjustments in face of a declining Hong Kong economy that has been impacted by months-long violent protests.
In the past two years, the Hong Kong government has taken effective measures to develop the economy, improve people's livelihoods and provide assistant to the elderly. This year, given the current social division, the government will handle more in-depth problems in a bolder manner, said Lam.
The seasonally adjusted unemployment rate in Hong Kong was 2.9 percent between May and July, the Census &Statistics Department announced on Monday.
Earlier, Hong Kong Financial Secretary Paul Chan Mo-po announced an economic support package of 19.1 billion HK dollars ($2.4 billion) as the government lowered its 2019 growth forecast to between 0 and 1 percent.
China on Sunday released a guideline to build Shenzhen into a pilot demonstration area for socialism with Chinese characteristics, a move analysts believe will upgrade the city.
During Tuesday's press conference, Lam vowed to raise Hong Kong's competitiveness and support small and medium-sized companies.
"Hong Kong and Shenzhen maintain close relations. Some favorable measures in Shenzhen, especially in the tech sector, will play a positive role for relations between the two cities," said Lam.