Financial Secretary Paul Chan on Sunday said Hong Kong needs to work alongside the nation to overcome the global economic and political challenges brought about by the trade war.

In his weekly blog, Chan said Hong Kong must show itself to be a secure place for investments while promoting its unique advantages, such as its free port status and the common law system.

Chan said that during times of geopolitical uncertainty, businesses prefer transparent and stable markets. He also said many companies were shifting their focus to Asean countries because of their young and fast-growing consumer base.

Chan also criticised the United States saying it would become isolated through its tariff wars.