Hong Kong Chief Executive John Lee Ka-chiu on Tuesday championed free trade and multilateralism during the Boao Forum for Asia, branding the city as a land of opportunity amid rising global protectionism and highlighting its role as a vital gateway to the Chinese market.

Speaking at the Global Free Trade Port Development Forum, a highlighted subevent on the first day of the forum, Lee called on responsible economies to unite in a “changing world” by expanding free trade, streamlining customs clearance procedures and harmonizing standards.

“Go alone; you may go fast. Go together; we go far,” he said, emphasizing the importance of collaboration in the face of growing trade barriers.

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The four-day Boao Forum for Asia Annual Conference 2025 was kicked off on Tuesday in Hainan province’s coastal town of Boao. Dubbed “Asia’s Davos,” this year’s Boao Forum carries the theme “Asia in the Changing World: Towards a Shared Future.”

Describing the event as a “beacon of dialogue and cooperation”, Lee said that Asia, as a key driver of global growth, must resist protectionism and uphold multilateralism despite global challenges such as geopolitical tensions, supply-chain disruptions, rising poverty, and sustainability crises.

As a founding member of the World Trade Organization (WTO), the Hong Kong Special Administrative Region has long been a proponent of free and multilateral trade, Lee said. The city has signed investment agreements with 33 economies and free trade agreements with 21 economies, and is on track to join the Regional Comprehensive Economic Partnership (RCEP) — the world’s largest free trade pact.

An amendment to the Mainland and Hong Kong Closer Economic Partnership Arrangement, which came into effect this month, has further expanded market access for Hong Kong businesses and professionals on the mainland.

Thanks to its commitment to free trade, Hong Kong was the world’s 10th-largest merchandise trading exporter in 2023, and the fourth-largest destination for foreign direct investment, despite its small size and population.

Lee said that Hong Kong was recently crowned the third-freest economy worldwide as well as the fifth-most competitive economy globally.

He attributed this success to the principle of “one country, two systems”, which positions Hong Kong as a global city with both Chinese and international advantages.

Speaking in English, Lee underscored the city’s strengths, including its Chinese-English dual official-language system, common law framework, deep talent pool familiar with both international and mainland business practices, and its simple, low-tax regime.

The 2025 Government Work Report, released by the State Council earlier this month, called for stepping up the implementation of core policies for the Hainan Free Trade Port, and required the Hong Kong SAR to enhance international communication and exchanges.

“We will continue to join hands with our friends in Hainan to promote the vast opportunities and benefits that free trade and market liberalization can bring to the world,” Lee said.

After listening to Lee’s speech, Pei Sai Fan, an adjunct professor at the National University of Singapore and Nanyang Technological University, noted the potential for greater cooperation between Hong Kong and Singapore as world-class free trade ports, despite competition.

“Singapore primarily focuses on Association of Southeast Asian Nations (ASEAN), while Hong Kong mainly targets the mainland. Each region has its own advantages,” he said, adding that collaboration would benefit all parties.

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Before his speech, Lee announced on social media that Hong Kong will sign a new agreement with Hainan to strengthen cooperation in trade, finance, data flows, tourism, and talent exchange.

Regarding Hainan as an ideal gateway leading to the vast market of the Southeast Asia, Lee said the move will also support Hong Kong’s bid to join the RCEP, a trade pact aimed at deepening regional ties between China, members of ASEAN, and other partners.

Lee added that Hong Kong and Hainan could share expertise on developing free trade port, zero-tariff policies, and ASEAN market expansion.

Gu Yehua contributed to this report from Boao, Hainan province.

Contact the writer at lilei@chinadailyhk.com