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Home > News > Trade war between China and America

Trade war between China and America


The secretary for commerce and economic development of the Hong Kong special administrative region, Mr Edward yau, met with representatives of major Chambers of commerce and small and medium enterprises associations on Wednesday to discuss trade frictions between the us and China.Speaking with industry representatives after the meeting, Mr Yau said the SAR government would work with the industry to deal with the impact of the us-china trade war on Hong Kong's economy.

The value of Hong Kong's merchandise exports fell for the ninth consecutive month in July, according to data provided by the census and statistics department of the Hong Kong special administrative region government.'as an international financial center, Hong Kong's financial system is highly earthquake resistant,' Mr. Yau said at a news conference."As a very open international city, Hong Kong has taken a lot of international financial risks. However, Hong Kong has a sound system and precautionary measures, especially in the financial sector.But in terms of trade and business environment, we do face a very big challenge. In the peripheral environment, the china-us trade war has indeed had a very negative impact on Hong Kong.So today's discussion with the chamber of commerce is also about the external issues and Hong Kong issues, how to deploy, how to do some more work to deal with."

Hong-bin wu, chairman of the Hong Kong Chinese manufacturers association, said at a news conference, Hong Kong's economy is currently in a strife-torn situation, he hope the community of Hong Kong as soon as possible out of the dilemma, to continue moving forward, "under the influence of sino-us trade friction to upgrade, now the factory management is more and more difficult, also implicated in other industries in Hong Kong, including large exhibition activities are concerned, because in the past the main products are manufactured in mainland China."The current situation in Hong Kong has caused many buyers and exhibitors to stay away from Hong Kong, or to make some adjustments (to the original plan). This will affect the hotel industry, the service industry and other industries. We hope this incident can be resolved as soon as possible."

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