Hong Kong to boost efforts to lure investment, talent in light of US tariffs

Finance chief Paul Chan has instructed market regulator and stock exchange to prepare for potential influx of mainland companies looking to return to city for listing

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The US has slapped a tariff of up to 145 per cent on goods imported from mainland China and Hong Kong. Photo: Eugene Lee

Published: 2:45pm, 13 Apr 2025Updated: 9:54pm, 13 Apr 2025

Hong Kong will increase the pace of attracting foreign investment, talent and initial public offerings (IPOs) and step up scrutiny of financial markets amid sweeping external changes including the US’ so-called reciprocal tariffs, the finance chief has said.

Financial Secretary Paul Chan Mo-po highlighted measures the city would take in his weekly blog on Sunday after US President Donald Trump imposed an additional tariff of up to 145 per cent on goods from mainland China and Hong Kong, and raised charges for US-bound small parcels as a trade war between Washington and Beijing escalated.

Other steps include support for small and medium-sized enterprises through the provision of liquidity by local banks and greater risk protection via the Hong Kong Export Credit Insurance Corporation.

“Even if Washington slightly adjusts its measures, it has not made any fundamental changes and investors’ pessimism remains,” Chan said.

Earlier in the day, the financial secretary delivered a speech at the opening of the four-day Business of Innovation and Technology Week, saying Hong Kong’s arms were wide open for business.

“We gather at a pivotal moment,” he said to VIPs and guests. “We are witnessing a shifting global landscape marked by a daunting trade war and technological fragmentation. Trade patterns, industrial chains, supply chains and partnerships are being reshaped. In this ‘new normal’, many businesses will have to find new collaborators, explore untapped markets and embrace more agile business models.”