Key facts
- Yau said September exports rose 64.9% year-on-year, the fastest monthly growth in more than 40 years.
- Yau said September imports rose 57.8% from a year earlier.
- Yau said AI-related electronics trade drove the export growth and warned the AI boom may slow.
- Yau said Hong Kong must keep seeking new opportunities to remain an international trade center.
- Yau said the APEC Economic Leaders' Meeting in Shenzhen aimed to build an Asia-Pacific community.
Hong Kong's Secretary for Commerce and Economic Development Algernon Yau Ying-wah said on November 15 that the city must actively expand its trade networks and not wait for luck, warning that growth in artificial intelligence-related exports may slow.
Speaking on a radio program, Yau said September exports rose 64.9% from a year earlier, the fastest monthly growth in more than 40 years, while imports rose 57.8%. He said AI-related electronics trade drove the increase and described re-export trade as a ballast point for the city.
Yau said the global landscape is constantly evolving and different countries hold varying views on AI development, so the boom might slow slightly. He said Hong Kong should adjust its strategies and keep looking for new opportunities to maintain its status as an international trade center.
He also said the APEC Economic Leaders' Meeting in Shenzhen was aimed at building an Asia-Pacific community, and that it is the nation's wish that regional economies cooperate for mutual development.