Hong Kong will prioritize mutual respect and adopt a “bottom-line” thinking to safeguard its own interests while dealing with trade relations with other economies, Chief Executive John Lee Ka-chiu said on Tuesday.

Speaking to the media ahead of the weekly Executive Council meeting, he reiterated that the special administrative region attaches importance to business ties with any economies and strongly supports multilateral trade mechanism.

“This year, Hong Kong has once again been recognized as the world's freest economy. We hope to develop fair and free trade relations and promote mutually beneficial and win-win trade relations with the principle of mutual respect, but we will also adopt bottom-line thinking to protect the legitimate rights and interests of Hong Kong businesses,” he said when asked about the SAR government’s views on Donald Trump’s win in the Nov 5 US presidential election.

Lee was referring to the Economic Freedom of the World 2024 Annual Report released by Canadian think tank Fraser Institute on Oct 16 which showed Hong Kong reclaiming its title as the world’s freest economy, rising one spot from last year.

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The government welcomed normal business exchanges, economic activities and people-to-people exchanges with different economies, including the US, Lee said.

The US’ trade surplus with the SAR had reached $270 billion over the past 10 years and more than 1,200 US companies had set up their bases in the city, Lee pointed out, adding that these figures had demonstrated the close economic ties between the SAR and the US, as well as the vast interests of US businesses in Hong Kong.

Highlighting the importance of mutually beneficial trade relations with any economies, the CE said at Tuesday's briefing that Hong Kong valued the rule of law and the principle of “non-interference” in local affairs.

“We urge all economies to adopt the principle of mutual respect in developing trade ties with the city and not to exert their influence on judicial and business activities in the SAR.”

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Striving to maintain its relations with developed markets, Hong Kong was also actively expanding regional networks and exploring emerging markets, including the Middle East, countries involved in the Belt and Road Initiative and the ASEAN countries, he added.

APEC meeting in Peru

Lee also said he would head to Peru on early Wednesday to attend the Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting and other related activities.

It was the first visit to Latin America since he assumed office in 2022, he said, adding that he will take this opportunity to enhance trade ties, especially with emerging markets, and exchanges views with other leaders to tell good stories of Hong Kong.

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“Trade between Hong Kong and other APEC member economies accounts for some 80 percent of Hong Kong's external trade, making them Hong Kong's important trade partners. The HKSAR government will continue to actively participate in APEC-related matters to promote regional economic development and integration,” he said.

Attempted attack on magistrate

Asked about an attempted assault on a magistrate at the Kowloon City Magistrates' Courts last Monday, the CE said the government condemned any illegal act to try to interfere with the judicial processes.

Stressing that the government will uphold the rule of law and hold the culprit accountable, Lee pointed out that police and the judiciary had immediately enhanced the security arrangement at the court and the government supported any measures to ensure protection of judicial offices.