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A joint taskforce will meet this month to discuss how to implement the proposal to build a bridge between Hong Kong, Macau and Zhuhai.
Chief Executive Tung Chee-hwa said it would consider the bridge's economic benefits, costs, alignment and environmental impact.
He said he was confident the bridge would benefit everyone in Hong Kong by spurring development of the Pearl River Delta and thereby boosting prosperity.
The taskforce will have nine members - three each from Macau, Hong Kong and Guangdong. The three areas will share equally the cost of preparatory work on the project.
The body will meet for the first time on August 30.
It will submit a report to the joint conference before the central government's formal approval is sought.
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