Hong Kong minister warns AI slowdown may hit trade, urges self-reliance
Hong Kong's commerce chief says September exports surged 64.9 per cent year-on-year, driven by AI-related electronics trade. He warns global AI development may slow and urges Hong Kong to find new opportunities rather than wait passively.
Hong Kong's September exports surged 64.9 per cent year-on-year, the fastest monthly growth in more than 40 years, while imports rose 57.8 per cent, the city's commerce and economic development minister has said.
Speaking on a radio programme, Secretary for Commerce and Economic Development Edward Yiu described the figures as “impressive” and said the growth was mainly driven by trade in electronic products related to artificial intelligence (AI).
Yiu noted that re-export trade is crucial for Hong Kong, describing it as a “ballast point”. He said the national 15th Five-Year Plan requires Hong Kong to consolidate and enhance its status as an international trading hub and international aviation hub.
The minister warned that Hong Kong is affected by the global landscape, and different countries have different views on AI development. He said future AI development may slow down, stressing that Hong Kong “cannot wait for luck to come” but must be self-reliant and continuously explore new opportunities.