Algernon Yau Ying-wah, secretary for commerce and economic development for the Hong Kong Special Administrative Region government, gives an interview to members of the media at the Central Government Office on June 27, 2023. (CALVIN NG / CHINA DAILY)

On the cusp of starting his second year in public service, Hong Kong’s commerce secretary has said the Special Administrative Region’s economic and trade development is steering a steady course while enhancing numerous global and mainland connections.  

Algernon Yau Ying-wah, secretary for Commerce and Economic Development, said on Tuesday that he had found his first year in the job “very challenging” because having previously been in the airline industry he was new to working for the government and had experienced a lot of differences between the private sector and government officials. 

Citing his recent trips to the nine mainland cities in the Greater Bay Area, Yau said the deepening integration with the city cluster will drive growth significantly

With both external and domestic segments hit hard, the Hong Kong economy contracted by 3.5 percent in 2022. It’s the third time since 2019 that the local economy has recorded negative growth. 

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But Chief Executive John Lee Ka-chiu has indicated a very clear direction on how we should develop the economy of Hong Kong after the pandemic, Yau said. 

“That’s why I visited so many countries, and so many cities in the past six months to promote Hong Kong and tell a good story about Hong Kong,” he said. 

Last week, the commerce chief concluded a trip Japan to update the political and business sectors there on the SAR’s latest development and business opportunities. 

In strengthening regional trade ties, Yau said that Hong Kong has done a great deal of work to join the Regional Comprehensive Economic Partnership (RCEP) which is the world's largest free trade bloc covering about 30 percent of the world’s population, as well as 30 percent of the world’s economic and trade volume. 

The RCEP, which came into force on the first day of 2022, is a mega free trade agreement involving Australia, China, Japan, South Korea, New Zealand and the 10 members of the Association of Southeast Asian Nations (ASEAN). 

So far, 13 out of the 15 member countries in the RCEP have concluded Free Trade Agreements (FTA) with Hong Kong. 

“Our presence in the RCEP will ensure a great opportunity for other countries, which will benefit their trade development, especially by using Hong Kong to enter the Guangdong-Hong Kong-Macao Greater Bay Area and other places in the Chinese mainland,” Yau said. 

He added it is also time for everyone to tell good stories about Hong Kong by using the city’s well-connected airline network so that people can understand the situation in Hong Kong rather than just listen to the Western media’s incorrect reporting. Before joining the government, Yau held key managerial positions in the aviation and logistics sector, such as Greater Bay Airlines and Cathay Pacific Group.

Algernon Yau Ying-wah, secretary for commerce and economic development for the Hong Kong Special Administrative Region government, gives an interview to members of the media at the Central Government Office on June 27, 2023. (CALVIN NG / CHINA DAILY)

Citing his recent trips to the nine mainland cities in the Greater Bay Area, Yau said the deepening integration with the city cluster will drive growth significantly. 

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“The priority is to bring more enterprises to the Greater Bay Area and inform them of the strategy of the overall development,” he said, adding that Hong Kong also pays attention to the development of the high-tech sector.

A case in point is the development of the Northern Metropolis. Unveiled in the 2021 Policy Address by then-Chief Executive Carrie Lam Cheng Yuet-ngor, Hong Kong is going to transform the northern New Territories bordering Shenzhen into a new international innovation and technology city, integrating quality life, new economies, as well as culture and leisure.

“On the whole, Hong Kong’s strength can complement that of the other cities in the Greater Bay Area and we can also connect to every area,” Yau said. 

Contact the writer at evanliu@chinadailyhk.com