Hong Kong has decided to scrap one of the world's longest-standing COVID-19 mask mandates as of Wednesday, Chief Executive John Lee has confirmed.

The mandate, which stood for almost 1,000 days, will end the global financial hub's last major coronavirus curb as it seeks to emerge from the pandemic.

The city was one of the last places in the world to require face coverings in virtually all public settings, with everyone over the age of 2 required to wear one or face a fine of up to $10,000 Hong Kong dollars ($1,275).

"I announce that the masking requirement will be completely canceled starting tomorrow, March 1, including for indoors, outdoors and (on) public transportation," Lee said at a brief press conference Tuesday.

He added that hospitals and elderly homes can impose their own restrictions.

The mask mandate was imposed almost three years ago.

Hong Kong's lifting of its restrictions comes after the neighboring Chinese territory of Macau relaxed its own mask rules earlier Monday, dropping the measure except for high-risk public areas, such as hospitals.

Mainland China also rolled back its strict zero-COVID policy last December following unprecedented protests.