THE export markets of the Hong Kong Special Administrative Region (HKSAR) are undergoing a diversification process, with more focus shifting toward emerging markets amid a decrease in exports to traditional markets such as the US and Europe, Hong Kong Financial Secretary Paul Chan Mo-po said in a post on his blog over the weekend.

He highlighted expanding trade ties with the Association of Southeast Asian Nations (Asean), whose share of exports by value reached 7.9 percent in 2023, compared with 6.1 percent in 2022, making it Hong Kong's second-largest export market after the Chinese mainland.