Speaking on a radio programme, Lam said the talent of some Hong Kong athletes goes to waste as they can’t strike a balance between studies and sport.
He appealed to parents to let their children pursue sports if they have the talent and passion.
“Hong Kong students face great academic pressure from homework and exams. Many talented athletes gave up sports as they didn’t have enough time to do both,” he said.
“As society attaches more importance to sports development, professional athletes will have a brighter future. I believe more parents will support their children to pursue a career in sports.”
Lam said his charitable foundation will award Cheung HK$2.5 million for his victory.
The gold medal winner will also receive HK$5 million from Henderson Land.
The MTR Corporation said Cheung will be able to take unlimited free rides for life on its rail network, while Hong Kong’s other Olympians will be given a one-year pass.
Kowloon Motor Bus, meanwhile, said it will give one-year passes to all Hong Kong athletes competing in Tokyo.