Fleshing out his policy platform, Lee said loyalty to the central government was a priority for any chief executive and part of his platform included accelerating plans to resolve the city's chronic housing shortage.

"This new chapter will be a new symphony. Being the conductor, each member will be able to leverage his or her strengths to create the synergy effect of one plus one is greater than two. Together, we will play a more splendid new piece for Hong Kong. Hong Kong should have a better future, better life," he said.

Hong Kong media reports said this week that Beijing officials want Lee to be the only candidate, and will not give the green light to others to stand against him.

Lee said he welcomed any other leadership contenders.