HK must actively explore new markets amid trade challenges, says HKTDC chairman

Hong Kong Trade Development Council (HKTDC) Chairman Frederick Ma Si-hang has called for more aggressive exploration of new markets, including ASEAN nations, as the city faces growing trade headwinds from geopolitical tensions and US tariff policies.

Speaking on a radio program Saturday, Ma warned that Hong Kong's export performance in the second half of the year is expected to weaken compared to the first half, citing pressures from traditional markets like the US, UK, and Europe.

Ma criticized US President Donald Trump's tariff policies for triggering trade wars and dampening global investment sentiment, calling the development "not good for the world."

However, he emphasized Hong Kong's unique position under the "one country, two systems" framework as an international financial hub that connects China with the world—a role he said no other city can replace.

"Where there are challenges, there are opportunities for Hong Kong," Ma said.

The HKTDC chairman revealed that ASEAN countries have become a key focus for the council's overseas missions, particularly Indonesia with its population of over 200 million.

He noted strong business ties with Thailand and Malaysia, where growing middle-class populations are creating expanding market potential.

Looking beyond Asia, Ma said he has urged his team to study opportunities in Africa, where rising populations and an expanding middle class—combined with China's preferential tax policies for the region—present new commercial possibilities for Hong Kong businesses.

On the exhibition industry, Ma acknowledged that Hong Kong's current venue space is insufficient and expressed frustration with slow progress on the Convention and Exhibition Centre expansion.

He said the HKTDC is exploring solutions to address medium-term needs, including accelerating expansion plans to maintain Hong Kong's competitiveness as a global trade show hub.