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Hong Kong's exports in September surged by over 60 percent year-on-year, marking the fastest single-month growth rate in more than 40 years, according to Algernon Yau Ying-wah, Secretary for Commerce and Economic Development.
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Yau stated that the rapid expansion was primarily driven by the export of artificial intelligence (AI)-related electronic products.
This surge has also pushed the city's annual re-export trade value to more than HK$700 billion, which is equivalent to 1.4 times Hong Kong's Gross Domestic Product (GDP).
However, Yau warned that the global outlook remains highly uncertain and Hong Kong's economy remains susceptible to external factors, even though some regional conflicts may show signs of easing.
As the rapid expansion of AI technology could potentially slow down, the government will continue to closely monitor global trends, explore new opportunities, and actively expand the city's trade networks.
Yau also highlighted that the Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting is set to kick off in Shenzhen this week, aiming to foster regional economic cooperation, peaceful co-development, trade innovation, and AI advancement.
Furthermore, Yau noted that Hong Kong has been included in the Accession Working Group under the Regional Comprehensive Economic Partnership (RCEP), which enables Hong Kong to lobby individual member states in support of its bid to join the trade pact.
Upon successful accession, the various trade arrangements under the agreement will automatically extend to Hong Kong, bringing substantial benefits to the local economy.
