Hong Kong Productivity Council chairman Sunny Tan said on Saturday the additional 100 percent tariff imposed by the United States on China had not come as a surprise.

The extra levies and US export controls on "any and all critical software" are to come into effect from November 1.

Tan, a businessman and a lawmaker, said companies in Hong Kong would continue to look to other markets, such as those in the Belt and Road Initiative.

"We knew about the instability in the US," he said.

"So I believe many of our companies are seeking new opportunities, instead of just solely relying on the American market.

"Given its instability, this is not something we did not anticipate," he said.

"The most crucial thing is maintaining support and funding from the SAR government and banks."

One way of helping enterprises to look for new opportunities, Tan added, is by stepping up promotions in new markets.