Li Jiachao promised that the government would provide policy and financial assistance to small and medium-sized enterprises during the period of economic transformation. (Dian News Information Photo)
[Dian News Report] Hong Kong's retail industry is in an "ice aging", a large number of Hong Kong people leave Hong Kong to consume during the long holidays, and the market demand for high-value commodities such as jewelry and watches has also declined significantly. In an interview with media, Hong Kong Special Administrative Region Government Chief Executive Li Jiachao said that there are indeed problems in the local retail industry and we must seek change. He mentioned that citizens went north to consume, believing that the market is changing and society must adapt, calling on local companies to work hard to change, and promised that the government would provide policy and financial assistance to small and medium-sized enterprises during the economic transformation period.
Li Jiachao pointed out that some industries in Hong Kong are facing challenges, and other industries have performed well, such as the number of newly registered companies in Hong Kong and foreign companies entering Hong Kong hit a new high. The local stock market has risen by nearly 20% this year. It is believed that Hong Kong still has growth and there are many opportunities.
The United States provoked a tariff war against our country, and global geopolitics are full of uncertainty. Li Jiachao said that the factors behind Hong Kong's success lie in its openness, zero tariffs and free port status. It cannot kill Hong Kong's successful genes, but must continue to maintain its free port status. Even if the geopolitical tensions between China and the United States heat up, it will not counter US tariff measures. He pointed out that under the trade war, the SAR government has formulated emergency plans for the worst situation, pledging to strengthen assistance to local companies to reduce their dependence on the United States for the remaining two years, and to find opportunities in new markets such as Southeast Asia and the Middle East.
