Rise in trade ranking shows 'HK is going places'

The reason Hong Kong is doing so well in trade is because its export sector has been exploring a lot of new markets, Deputy Financial Secretary Michael Wong said on Friday, showcasing the resilience and vitality of the local economy. His remark came after the SAR was named the world's fifth-largest trading entity in merchandise trade in 2025 in the recent Global Trade Outlook and Statistics report published by the World Trade Organization. In a social media post, Wong said Hong Kong’s external trade showed strong resilience amid challenges brought by geopolitics and trade protectionism. “As long as we strive to explore new markets and seek new opportunities, Hong Kong is still able to achieve remarkable results,” he said. “For example, Hong Kong's exports to the Asean market performed exceptionally well in 2025, with exports increasing by up to 72 percent to Malaysia, 55 percent to Vietnam and nearly 40 percent to Thailand.” Meanwhile, executive councillor Jeffrey Lam said the rise in ranking – Hong Kong was seventh in 2024 – demonstrated the SAR’s competitiveness. Hong Kong, he added, should continue to act as a super connector to help mainland enterprises enter the global market. The Chinese General Chamber of Commerce also said it was encouraged by the rise in ranking. It added that Hong Kong’s coming first five-year plan could further consolidate the SAR's position as an international trade centre. Edited by Thomas McAlinden

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