A Very Happy New Year to our readers! I know that all of you have survived a roller coaster 2025 and are buckled down for a volatile 2026. Last year saw the introduction of tariffs by the Trump Administration at a depth and breadth not seen in recent history, followed by trade policy being a part of many geopolitical and diplomatic discussions. In this uncertain environment, our members did their best to adjust and revise their strategies, abandoning old ones and devising new ones. Therefore, it goes without saying that it was tough to do business in 2025.
As we enter 2026, there are positive signs including the continuation of a trade truce between the US and China, and general positive statements coming out of the Trump Administration about China. However, structural differences remain deep between the two capitals, and Hong Kong is very much caught in the middle. What Hong Kong has done in the past two years is to forge ahead to find a new positioning: How to embrace the ever-closer relationship with the Beijing government while maintaining its international characteristics and connections. It is not a zero-sum game, but unfortunately there are many on different sides of the spectrum who feel that it is. AmCham HK does not, and preliminary results of our Business Sentiment Survey—to be released on February 2—show the respondents largely believing Hong Kong is an international city with great opportunities—a lot of it due to international connectivity, free flow of capital and information, Common Law system, and China—and determined to stay here and compete. There are still concerns by our members though, and details will be available at the Chairman’s Priorities Lunch on February 2. Hope you can find time to join. Also, we believe it is useful for your business and for you to attend our Annual China Conference on April 28, right after a planned Trump visit to China.
On Thanksgiving last year, a very sad tragedy struck Hong Kong with the Tai Po fire, where over 160 people lost their lives and thousands lost their homes. The initial outpouring of sympathy and care and actions from Hong Kong, including AmCham members, was heartwarming around this depressing episode for Hong Kong. AmCham on the next day earmarked from its Charitable Foundation $100,000 to help with immediate relief. Many member companies then energized to provide monetary and other assistance to help those affected. Finally, AmCham also collected close to HK$1,000,000 from members to be donated to Red Cross Hong Kong later this month. So far, the response by the Hong Kong community and the work done by the firemen and police have been very impressive. Rebuilding and resettlement have started, but we await further investigation by the HKSAR Government so that tragic accidents like this will not happen again.
With the start of the New Year, a new group of Board members came on board to oversee AmCham, and you can read about them in the Cover Story. Along with the interview of an impressive CEO, there are also other fascinating stories to help you pass the time during the Chinese New Year period starting February 17. Let me wish you a Healthy and Prosperous Year of the Horse!
Eden Woon
President
AmCham HK