The Trump administration announced the imposition of tariffs of 34 percent on Chinese imports, and Beijing authorities have struck back, imposing a 34 percent tariff on all US goods.
Speaking at a seminar organised by the Hong Kong News-Expo, Chan said Hong Kong will not impose any countermeasures.
“Allowing a free flow of capital and acting as a free port are our advantages, and this will not change. The SAR government, of course, strongly opposes the actions by the US, and we also need to be defensive,” he said.
“But on the other hand, we think we should persist in being free and open. The rules-based multilateral trading system is our core.”
The finance chief said Hong Kong has an overseeing mechanism to identify risks that may threaten the financial system.
Meanwhile, he said companies from the United States and Western countries regarded the mainland and Hong Kong as “non-investable” markets in the past years.
But foreign investors changed their mind with the rise of DeepSeek earlier this year, he said, reassessing the potential of the country’s innovation and technological companies.