Hong Kong will adjust to navigate lingering geopolitical tensions, welcoming new growth in supply chains, financial services and innovation, the finance chief has vowed while promoting the city’s opportunities in the United States.
Financial Secretary Paul Chan Mo-po made his remarks at the end of his first in-person visit to Washington since 2019, as a fresh phase of the US-China trade war looms, with Hong Kong caught in the rivalry.
“Geopolitical tensions will continue to be there for quite some time,” he told the Post on Friday US time in an interview on the sidelines of the annual meetings of the World Bank and International Monetary Fund (IMF) in Washington.
Tensions between the world’s two largest economies flared up last week over new rare earth restrictions and “reciprocal” port fees, which prompted US President Donald Trump to threaten a new 100 per cent tariff increase starting in November.
Hong Kong companies are also targeted. On Wednesday, the US Federal Communications Commission moved to revoke HKT International’s licence to operate in the US, citing national security concerns.
“Trade war tariffs are not good for anyone, even for the American people … from the Hongkongers’ perspective, we need to find a way to navigate this challenge,” the minister said.
