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Frank Tang

Hong Kong will successfully navigate protracted geopolitical tensions, serving as a supply chain hub while providing financial services and innovation, the finance chief has said after a visit to the United States where he promoted the city.
Financial Secretary Paul Chan Mo-po offered the upbeat assessment in an interview with the Post at the end of his first visit to Washington since 2019, with a fresh phase of the US-China trade war looming and Hong Kong caught up in the rivalry.
“Geopolitical tensions will continue to be there for quite some time,” he said on the sidelines of the annual meetings of the World Bank and International Monetary Fund (IMF) in the US capital.
Tensions between the world’s two largest economies flared up again last week over new rare earth restrictions and reciprocal port fees, which prompted US President Donald Trump to threaten a new 100 per cent tariff increase on Chinese goods starting in November.
Hong Kong companies have also been targeted. On Wednesday, a US regulator, the Federal Communications Commission, moved to revoke HKT International’s licence to operate in the United States, citing national security concerns. HKT International is a subsidiary of Hong Kong-based PCCW.
“Trade war tariffs are not good for anyone, even for the American people … from Hongkongers’ perspective, we need to find a way to navigate this challenge,” Chan said.

Chan, one of the highest-ranking Hong Kong officials to visit the US in recent years, started his four-day trip in New York on Tuesday, where he delivered a message welcoming American businesses and assured them of the city’s commitment to remaining a free port and upholding its common law system.
In Washington, Chan met a team from the IMF responsible for regular assessments of the city’s macroeconomic conditions, fiscal and monetary policies, financial stability and structural reforms. During the meeting, Chan provided details about the city’s current economic and fiscal conditions, as well as its development.
Chan said that during the trip, he understood US perspectives and concerns about Hong Kong and had promoted opportunities in the city.
“Given the current geopolitics, what opportunities exist? Also, under the new government led by Chief Executive John Lee Ka-chiu, what are our priorities and the economic direction for Hong Kong? These are the topics we have discussed,” he said.
But Chan said opportunities were emerging from the rapidly changing geopolitical landscape.
For instance, the reconfiguration of mainland Chinese companies’ industrial base and supply chains – many moving business operations to Southeast Asia to avoid high US tariffs – had allowed the city to become a hub for supply chain management, professional services and trade finance.
Funds raised from initial public offerings in the city jumped 220 per cent year on year to US$23.3 billion in the first nine months of this year, strengthening its position at the top of the global rankings.
“Our stock market is doing very well,” Chan said. “We can help these mainland companies going global to come to Hong Kong to raise funds to support their overseas expansion.”

He also pledged to provide an environment for stablecoins and other digital assets to grow responsibly and sustainably.
“Our general policy concerning digital assets is that this is an innovation based on blockchain technology and we need to embrace it,” he said.
“Our idea is to put in proper guard rails so that this sector will be able to grow while the risks are properly managed,” Chan added, pointing to issues such as financial stability, anti-money-laundering efforts and the need for investor protection.
The city is going to start issuing licences from the beginning of 2026 after the Stablecoins Ordinance took effect in August this year.
The government would initially issue a handful of licences, the finance chief said, and only those with “a real-life case usage, a demonstrable and sustainable business model, strong compliance culture, and risk management culture” would be granted them.
“We want to do it prudently, step by step,” he said.
Chan said Hong Kong would continue to play its “superconnector” role in China’s coming five-year plan, with plans for development objectives such as outbound investment and renminbi internationalisation.

“The overriding principle is how to make good use of Hong Kong under the ‘one country, two systems’ framework with these unique advantages, connecting China with the rest of the world.”
To support Beijing’s overseas yuan strategy, Chan said Hong Kong would boost investment and risk management products, more liquidity and infrastructure to help promote renminbi use in international markets.
The city is the largest offshore renminbi centre, with about 968 billion yuan of bank deposits as of August, and a variety of Connect programmes to facilitate two-way capital flows.
“The bigger picture, globally, is that the use of renminbi will be on the rise,” he said. “There will be more offshore renminbi and this money needs to find investment opportunities.”


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Hong Kong will navigate trade war with new strategies, Paul Chan says in US

Financial Secretary Paul Chan wraps up his first in-person visit to the United States since 2019. Photo: Handout

Finance chief Paul Chan says Hong Kong will find a way to navigate trade strains. Photo: Handout

Finance chief Paul Chan promoted the city’s opportunities during his visit to the US. Photo: Handout

Finance chief Paul Chan attended the annual meetings of the World Bank and International Monetary Fund in Washington. Photo: Handout

Invest and expand in Hong Kong, Paul Chan tells US firms despite trade tensions

Finance chief Paul Chan (right) with NCUSCR president Stephen Orlins. Photo: Handout

Finance chief Paul Chan meets NCUSCR chairwoman Charlene Barshefsky during his US visit. Photo: Handout

Finance chief Paul Chan (right) meets Chinese ambassador to the US Xie Feng. Photo: Handout

Hong Kong’s Paul Chan to attend IMF, World Bank events in US, a first since 2019

The trip marks the first time Chan has travelled to Washington for the meetings since 2019. Photo: Reuters

Financial Secretary Paul Chan has said Hong Kong will continue to welcome foreign companies, including those from the US, to invest and develop their businesses. Photo: Karma Lo

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Finance chief Paul Chan concludes his first visit to Washington since 2019, as a new phase of the US-China trade war looms


Finance chief Paul Chan concludes his first visit to Washington since 2019, as a new phase of the US-China trade war looms.


Hong Kong will navigate trade war with new strategies, Paul Chan says in US

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Finance chief Paul Chan concludes his first visit to Washington since 2019, as a new phase of the US-China trade war looms

Finance chief Paul Chan concludes his first visit to Washington since 2019, as a new phase of the US-China trade war looms