Hong Kong is seeking to further expand its global trade and economic network and reinforce its role as an international hub.

The special administrative region government is planning to step up business promotion in Asian economies and explores new emerging markets, according to the city’s commerce chief.

Secretary for Commerce and Economic Development Algernon Yau Ying-wah on Monday said the HKSAR government will continue to broaden the coverage of its Economic and Trade Offices in the Association of Southeast Asian Nations (ASEAN), citing vast opportunities in the region.

“ASEAN is one of the world's fastest-growing markets, with continuously rising consumer spending power and high demand for technology and professional services,” he said at an event hosted by the Chinese General Chamber of Commerce (CGCC).

“It’s a market well worth cultivating for Hong Kong enterprises, especially young entrepreneurs.”

Hong Kong logged a 17.1 percent year-on-year increase in the value of total exports to Asia in November, with shipments to Malaysia soaring more than 70 percent and exports to Vietnam adding about 55 percent, according to official data.

Aiming to further strengthen its ties with ASEAN, the government last month set up a new trade office in Kuala Lumpur, — the fourth in the region, after Singapore, Jakarta and Bangkok.

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Yau said the authorities are also working to deepen economic outreach in promising markets such as Central Asia, the Middle East, and countries involved in the Belt and Road Initiative, with Latin America and Africa also included in the longer-term blueprint.

Yau added that he will lead delegations to Uzbekistan, Kazakhstan and Hungary to explore fresh business opportunities in the near future.

The secretary also pledged that the government will intensify efforts to help the local business sector, particularly young entrepreneurs, better seize new opportunities and connect with business partners from different places, including the Chinese mainland.

Last October the government set up the GoGlobal Task Force under Yau’s leadership to provide support for mainland enterprises seeking to strengthen their international presences by leveraging Hong Kong’s global business network and extensive experiences.

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Yau encouraged local youth entrepreneurs to take an active role in the process.

“Young entrepreneurs have many strengths. They are equipped with professional skills in areas such as finance, technology, digitalization, and law, and often possess a solid understanding of the local market,” he said.

“Therefore, when mainland enterprises come to Hong Kong to establish their businesses, local youth entrepreneurs can provide support and collaborate to grow together.”

Jason Wong Chun-tat, chairman of CGCC’s young executives' committee, said the initiative has injected new momentum into Hong Kong’s economy and provided broader development opportunities for young entrepreneurs and the local business community.

“Hong Kong, as a ‘super connector’ and ‘super value-adder’, is embracing unprecedented opportunities. For young business professionals, this is our golden era to make our mark,” he added.

Contact the writer at gabylin@chinadailyhk.com