The US-China tariff war is “not the end of the world” for Hong Kong businesses, the new head of the city’s Trade Development Council has said, as he outlined strategies to help them capitalise on geopolitical uncertainties.
Chairman Frederick Ma Si-hang, who took office on June 1, also said on Monday the council would explore setting up more offices in new markets and rebranding the Asian Financial Forum to include more industry elements.
The council has 51 offices around the world, including three in the United States and 13 in mainland China.
“We need to reposition our global presence based on the latest geopolitical situation and the need to explore business opportunities in new markets,” Ma, a former commerce chief, said.
“Our global network will be put under review, some new offices might be opened and some existing ones might get more resources … for example, we might consider Peru after a free-trade agreement was signed recently.”
Ma said the tariff war had brought uncertainties to businesses and impacted investors’ confidence, but he remained optimistic.
