Impact on US$500m tech imports depends on US measures, Edward Yau saysLocal | 10 Jun 2020 2:31 pm
The impact on mainly telecommunications and information security products and electronics imported by Hong Kong, will depend on export control measures eventually taken by the US government, the Secretary for Commerce and Economic Development, Edward Yau Tang-wah said today.
Citing data from the US Department of Commerce's Bureau of Industry and Security, Yau said US exports which are subject to export control and shipped to Hong Kong under BIS Licence Exception were worth about US$400 to US$500 million a year in 2016, 2017, and 2018. They were mainly telecommunications and information security products and electronics.
“The impacts of these products in obtaining the US export authorisation will depend on the export control measures eventually taken by the US Government,'' he said.
The Innovation and Technology Bureau has estimated that while any US policy changes may have certain impact on related industries in the short term, the impact on the long-term development of Hong Kong's innovation and technology (I&T) would be relatively limited, Yau said.
“In recent years, various I&T stakeholders in Hong Kong have been sourcing equipment and technology products from around the world, or developing related products and technologies locally. Hence, any policies adopted by individual regions should not have material impact on Hong Kong's I&T development,'' he said.