Hong Kong is determined to expand into new markets while consolidating ties with traditional partners and “will not give up any markets” despite geopolitical pressures, the city leader has said.
Conceding that Hong Kong, as an open economy, was exposed to global turmoil, Lee stressed the complex geopolitical situation would only highlight the city’s clear edge as a “safe, stable and secure society” for investors.
“I will not allow external factors to change the fundamental strength of Hong Kong. We reflect on what is right for Hong Kong, what have been the successful ingredients, and ensure we maintain and strengthen them,” he said, referring to the city’s deep conviction to remain a free port amid the US-China trade war and escalating tariffs.
Lee said he would ensure the city was resilient in the face of shocks, citing relief measures rolled out for drivers when the war in the Middle East pushed up global oil prices.
“At the same time, we build Hong Kong stronger. If we look at building the economy, then we have to look at more new opportunities elsewhere,” he said.