Qiu Yinghua: Middle East Situation Impacting Global Economy, Hong Kong's Role as "Super Connector" Creating Positive Opportunities

Director of Hong Kong Commerce and Economic Development Bureau, Edward Yau, said that the Hong Kong economy has started off stable this year, but the recent escalation of tensions in the Middle East has brought new impacts to global economic development. He pointed out the need to carefully assess the impact of these events on the future global supply chain, as well as factors such as whether the US will cut interest rates. Yau hopes that the situation can stabilize soon, and emphasized Hong Kong's role as a "super connector", which will bring positive opportunities to the city. Yau pointed out that, due to current uncertainties, many countries around the world are strengthening their cooperation with China. He believes that Hong Kong can benefit from the overall economic development of the country, by leveraging its role as a "super connector" to contribute to the country in the field of multinational supply chains, and to create positive opportunities for Hong Kong. Regarding Hong Kong's trade performance, Yau stated that the data for 2025 looks bright, with a recorded export and import growth of over 15%, reaching a total export value of around 520 billion Hong Kong dollars. In January of this year, export data grew by around 31.8%, and imports also increased by 38.1%, indicating a good start for foreign trade. In response to the new budget proposal that reserves 100 million Hong Kong dollars to promote the development of the exhibition industry and build the brand of "Hong Kong as the International Exhibition Hub", Yau revealed that discussions with exhibition organizations will take place to introduce exhibition types that have never been held in Hong Kong before, such as large-scale machinery exhibitions, yacht exhibitions, or small private aircraft exhibitions. He emphasized that the exhibition industry has contributed to around 2.1% of Hong Kong's local GDP, with each exhibition participant spending an average of 7,000 to 8,000 Hong Kong dollars per night. It is expected that the exhibition industry will continue to grow and strengthen, bringing significant economic benefits to the tourism, dining, retail, entertainment, and aviation industries. Regarding assistance to mainland Chinese companies in expanding overseas markets, Yau stated that the government's "Mainland Enterprise Overseas Expansion Team" is actively studying how to help small and medium-sized mainland enterprises utilize Hong Kong's advantages to expand overseas. The team is analyzing the different requirements of various countries for different types of enterprises, and helping mainland enterprises expand their overseas business through Hong Kong, covering areas such as manufacturing, production, investment, and mergers and acquisitions. He hopes that companies will choose to establish their regional headquarters in Hong Kong, thereby driving local employment and the economy, creating a win-win situation.