He was speaking at the opening of InnoEX, a four-day innovation and technology trade event featuring more than 450 exhibitors from 13 countries and regions.
Addressing guests in a speech, the financial minister acknowledged “a shifting global landscape marked by a daunting trade war and technological fragmentation”.
He urged businesses to adapt by finding new partners, exploring untapped markets, and adopting more flexible business models in what he called the “new normal”.
Chan also declared that it is in “Hong Kong’s DNA” to establish new connections and forge new partnerships, noting the SAR is home to more than 4,700 startups, with 28 percent founded by overseas entrepreneurs.
“Rest assured that our free port status and free trade policy remain unshaken. We are firm in our commitment to the free flow of capital, goods, talent and information,” he said.
Also speaking at the event, Secretary for Innovation, Technology and Industry Sun Dong stressed that unilateral trade policies and protectionism means that technological cooperation will be more vital than ever.
“As we navigate an increasingly complex world with a looming revival of unilateralism and protectionism, it is essential that we continue to harness innovation and embrace collaborative spirit to sustain the competitive edge of the tech-driven economies while pushing the technological boundaries for the well-being of people,” he said.
Sun added that Hong Kong will continue to capitalise on its unique advantages under the One Country, Two Systems principle.
These include the city’s strategic location as a gateway between mainland China and global markets, world-class infrastructure and a highly diverse talent pool – all of which, he said, will attract top innovators and investors from around the world.