Hong Kong remains the world’s fifth-largest trading entity, with total trade exceeding HK$12 trillion last year, Secretary for Commerce and Economic Development Algernon Yau Ying-wah said on Wednesday.
Yau said the total value of the city’s exports rose 53 percent in the first eight months of this year, while export growth had remained in double digits for 19 consecutive months.
He said the figures demonstrated the resilience of Hong Kong’s external trade despite challenges arising from geopolitical tensions and growing trade protectionism.
Yau also highlighted the government’s five-year plan to step up efforts to attract investment and businesses to the city.
Invest Hong Kong will strengthen investment promotion and support industry development through policy measures, he said.
The department will also work toward the key performance indicators set out in last year’s Policy Address, including attracting at least 1,200 enterprises to Hong Kong over this year and next.
Over the longer term, the government aims to achieve average annual growth of 4 to 5 percent over five years in the number of overseas and mainland companies operating in Hong Kong.
