Algernon Yau: Middle East instability has limited impact on HK's overall trade

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Secretary for Commerce and Economic Development Algernon Yau said while the situation in the Middle East is unstable, the impact on Hong Kong's economy is limited, as it currently accounts for only 1.5 percent of Hong Kong's total direct trade.

In the long run, he said the government will do their best to lure local funds and capital to invest in Hong Kong once geopolitical stability returns. 

Meanwhile, the Policy Address announced that 100 million dollars has been reserved to organize international exhibitions with brand-new elements.

He mentioned he hopes these exhibitions will drive the development of emerging industries, such as the yacht economy.