Following are the remarks by the Chief Executive, Mr John Lee, at a media session before the Executive Council meeting today (October 14):

Reporter: Good morning, Chief Executive. First, given the potential escalation of the China-US (United States) tariff war, how do you evaluate its impact on Hong Kong, and what is the Government's plan to cope with it? Will the Financial Secretary meet with US officials during his trip to Washington this week, and whether the tariff war is on his agenda? And secondly, regarding several lawmakers aged over 70 declared not to run for re-election. So will this set a precedent and constitutional convention, not just for lawmakers, but also for government officials with an age limit of 70? Thank you.

Chief Executive: In response to the uncertainties brought about by the US weaponisation of tariffs, the Hong Kong Government's stance is to closely monitor the situation, respond pragmatically and safeguard Hong Kong's rights and interests. Last time, after the US has indicated that it will increase tariffs, I have immediately announced seven measures. Experience has proven these seven measures are appropriate and effective, and we will continue to make big efforts to implement them. They are: one, fully seize the national development opportunities; two, strengthening international exchanges and co-operation to explore new markets; third, accelerating industrial upgrading and transformation by developing high-value-added innovation-driven economic models; fourth, intensify efforts to develop technological innovation, attract top-tier talents, strengthen Hong Kong's competitiveness continuously; fifth, vigorously advance international financial co-operation and attract investments and capital; sixth, seize the world's major trend of geographical risk diversification to attract foreign companies and capital to establish in Hong Kong; seventh, continue to provide support to help Hong Kong enterprises. The recently released Policy Address has proposed a set of 11 multipronged measures to support SMEs (small and medium-sized enterprises). 

     Hong Kong entrepreneurs are agile. Many of them have diversified their production lines to different places to mitigate the risk of tariff weaponisation. Over the past three years, talents, companies and capital have continuously flown into Hong Kong. Hong Kong's global competitiveness has risen by four places, now ranking third globally. Hong Kong is also the world's freest economy, coupled with a simple and low tax regime, a safe and stable business-friendly environment. There are lot of relative strengths that Hong Kong has which will support the sustained development of the economy and our trade. Furthermore, many enterprises have shifted their strategic focus to proactively tap into emerging markets, rather than concentrating on a single country. Hong Kong serves as a good platform for many enterprises to go global, and Hong Kong will have boundless business opportunities and benefits as a result, the Policy Address has seized this opportunity, and I have asked to establish the GoGlobal Task Force (Task Force on Supporting Mainland Enterprises in Going Global), and this GoGlobal Task Force was launched very quickly last week. This task force will proactively encourage many enterprises to use Hong Kong as a springboard to expand globally. The task force will create win-win opportunities for both Hong Kong and the Mainland. Hong Kong has weathered countless storms. We enjoy both the China advantage and the global advantage at the same time under the “one country, two systems” principle. In fact, despite the tariff war, Hong Kong's economy recorded a real growth of 3.1 per cent in the first half of this year. As long as we work together to embrace change and also strive for innovation, Hong Kong's opportunities will outweigh challenges. Our economy will maintain positive growth, and we shall achieve our forecast of 2 to 3 per cent positive growth this year. So be confident. But we need to innovate and work together.

     Regarding the LegCo election (Legislative Council General Election), it is normal for any organisation to see change of personnel during a change of term. I noticed that a number of current LegCo Members have expressed their decision not to run in the next LegCo election. They come from different age groups, some in their 30s, some in their 40s, some in their 70s. They have told their own reasons, such as family reasons, wish to focus more on matters they care about or academic pursuits, or the desire to pass on the torch to the newcomers. These are their personal choices. I respect their decisions. I have always attached great importance to the opinions of LegCo Members. Every year, my Policy Address incorporates many of the suggestions of LegCo Members. I thank them for their work during the term and their contributions to Hong Kong. The current LegCo has been scrutinising bills in a pragmatic and efficient manner. During its four-year session, the LegCo has passed some 130 bills, representing an increase of over 60 per cent compared to the same period of the previous term. It also has addressed issues that had been long unresolved for years. The Executive and the Legislature jointly fulfilled our constitutional responsibility that had remained unfilled for more than 26 years by unanimously passing the Safeguarding National Security Ordinance. Furthermore, LegCo passed the Basic Housing Units Ordinance, working with the Government to resolve a long-standing issue of substandard subdivided units. Additionally, the second reading on the bill to regulate ride-hailing will resume this week, if passed, it will solve the issue of unregulated online ride-hailing that has been a problem for the city for over 10 years. 

     The nomination period for the eighth Legislative Council Election will begin on the 24th of this month. I encourage patriots who have a passion for the country and our city, and who possess talent and are committed to serving Hong Kong, to actively seek nomination and register to run. I also urge voters to vote in the election. The Government will ensure the election is fair, impartial, honest, safe and orderly. Thank you.

(Please also refer to the Chinese portion of the remarks.)

Ends/Tuesday, October 14, 2025
Issued at HKT 14:15

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