Hong Kong’s exports are conservatively expected to grow by more than 20 percent this year, driven mainly by strong demand for artificial intelligence and communications technology products, Hong Kong Trade Development Council chairman Frederick Ma Si-hang said.
Speaking at a forum on Tuesday, Ma said Hong Kong remains the world’s fifth-largest trading economy, after mainland China, the United States, Germany and the Netherlands.
However, he warned that geopolitical uncertainties mean the city must continue expanding into new markets beyond its traditional European and American bases.
Ma said trade delegations led by the Chief Executive to various Association of Southeast Asian Nations markets had already produced concrete results, with trade volumes with those countries rising by 40 to 50 percent in recent years.
On the Middle East, Ma said the region has ample liquidity and that Hong Kong is well placed to serve as a bridge for channeling Middle Eastern capital into the city.
He also pointed to emerging capital opportunities in Central Asia, following a listing application filed by a Kazakhstan state-owned railway company with the Hong Kong Stock Exchange earlier this month.
Ma said Kazakh companies may increasingly turn to Hong Kong’s capital markets as they gain a deeper understanding of the city’s financial ecosystem, reducing their traditional reliance on London.
He said the railway company could become a pioneer in opening the door to more business opportunities between Hong Kong and Central Asia.
