Chinese People's Political Consultative Conference Standing Committee member Henry Tang on Monday said Donald Trump's victory in the American presidential election will not diminish Sino-US tensions.

"I believe the US-China tension will not change with the new president," Tang told reporters after attending a forum.

"We always wish to cooperate and work with all the people in the world and live peacefully for the benefit of the people. But that’s not how a lot of Americans are thinking, and it is a cross-party interest. So I don’t think the tension will diminish.

"On the other hand, I do think, I do hope that Trump will be more a US president as in being a businessman, meaning consider the interest of the people over the interest of who's threatening who."

Tang said Hong Kong will face a "very challenging" situation due to tensions between China and the US. But the former chief secretary said the SAR has always survived in challenging situations and the city will overcome this time through the collective efforts of everyone in society.

Meanwhile, Tang said he believes Hong Kong and Macau Affairs Office director Xia Baolong hopes the local business sector will seek changes through reform and take concrete action.

Xia told the SAR's business community during a closed-door meeting in Shenzhen last Friday that they are the "main force" in promoting the SAR's economic development.

Tang said Hongkongers are always very patriotic and "very astute businessmen".

"We will of course support the Central People's Government and we are always supporters of the Hong Kong and Macau Affairs Office and Xia Baolong. So, I'm sure all of those who went [to the meeting] will take his advice to heart and consider their actions and how to demonstrate that they have actually put into concrete action their support for the government and for the economy."

Tang said both government and business have to work together to boost economic development.