Edward Yau: U.S. tariffs have minimal actual economic impact on Hong Kong, SAR government has contingency plan

Hong Kong Financial Secretary Paul Chan Mo-po emphasized in a media interview that the United States' plan to impose tariffs on China will have minimal actual economic impact on Hong Kong. The Hong Kong government has emergency plans in place and is adjusting Hong Kong's positioning to take on the role of a supply chain and trade finance center. He pointed out that the United States is the fourth or fifth largest export market for Hong Kong, but with Hong Kong continuously expanding its exports to emerging markets such as ASEAN, the proportion of exports to the United States has been decreasing in the past few years. He also noted that mainland Chinese companies have adjusted their supply chains and industrial chains in response to the geopolitical situation. He mentioned that the Greater Bay Area will become a platform for promoting Hong Kong's technology industry, and the government is implementing a series of measures to attract strategic enterprises to Hong Kong and attract talent. Currently, 100 companies have been attracted to invest around $60 billion in the coming years. He also mentioned that various talent admission schemes have received a total of 530,000 applications, with 230,000 people already arriving in Hong Kong, describing these talents as crucial for Hong Kong's future economic growth.