Tung died on Tuesday at the age of 89.
In a statement, the DAB said Tung was a lifelong patriot who loved Hong Kong.
The party pledged to carry on his spirit and continue working hard for the good of both the nation and the SAR.
“He firmly believed that Hong Kong could participate widely in the nation’s reform and opening‑up and make contributions, and that the country’s development and strength would bring new opportunities for Hong Kong to become even more prosperous,” it said.
The Liberal Party, for its part, said Tung had a deep love for his country and that his spirit continued to inspire them to actively participate in the SAR’s development and integrate into the nation’s progress.
“The Liberal Party will follow Mr Tung’s example of patriotism and dedication, firmly safeguard ‘One Country, Two Systems,’ and devote ourselves fully to the prosperity of the nation and Hong Kong,” it said.
President of Hong Kong University of Science and Technology Nancy Ip said Tung consistently placed great importance on higher education.
She said he had strongly advocated strengthening Hong Kong through education, technology and talent development.
“His unwavering support for young people in pursuing scientific advancement and serving society and the nation left a lasting impact on Hong Kong’s education and innovation landscape,” she said.
Lawmaker Simon Lee, who had worked at the think tank Our Hong Kong Foundation founded by Tung, said his contributions were not just to Hong Kong, but to the nation and to the complex China-US relationship.
“I think the greatest way we can repay him is to stay committed to serving the public good, contribute more to the nation and Hong Kong, and carry forward his vision and dedication,” he said.