Hong Kong stocks close lower

Hong Kong's stock market declined on Friday with the benchmark Hang Seng Index down 0.29 percent to close at 26,844.96 points.

The Hang Seng China Enterprises Index lost 0.50 percent to end at 9,220.81 points, and the Hang Seng Tech Index edged down 0.11 percent to 5,822.18 points.

As foreign trade is an important part of China's open economy and a driving force for national economic development, Chinese Commerce Minister Wang Wentao said China will step up efforts to promote innovative development of its cross-border commerce.

In a recent interview with China Media Group, Wang said that China's foreign trade in goods grew by 3.8 percent year on year to reach 45.47 trillion yuan (about 6.53 trillion U.S. dollars) in 2025, hitting a new record and marking the first time that the volume has exceeded the 45-trillion-yuan threshold. The country is also expected to maintain its position as the world's largest trading nation in goods in 2025.

He stated that the global economy currently faces insufficient growth momentum, persistent geopolitical tensions, and a marked slowdown in trade expansion. The World Trade Organization has also revised its projected growth rate for global trade in 2026 downward to 0.5 percent, reflecting heightened uncertainty in the international trade environment.

In the face of significant challenges and mounting risks, China this year will advance the coordinated development of goods trade, service trade, and digital trade in a comprehensive and systematic manner, with the aim of ensuring stability and resilience in foreign trade performance, Wang stressed.

"We will consolidate and expand diversified markets. We will do a good job in hosting important exhibitions such as the Canton Fair, attract more overseas buyers to attend and purchase, and increase support for enterprises to participate in exhibitions abroad. We will guide the healthy and standardized development of new forms and models of foreign trade such as cross-border e-commerce. China has reached 23 free trade agreements (FTA) with 30 countries and regions. We will support and guide enterprises to make good use of these agreements to expand trade exchanges," he said.

China will promote balanced trade development in 2026, said Wang, adding that it will actively expand imports through measures such as coordinated exhibition events and targeted procurement.

"We will continue to expand the influence of the 'Export to China' brand, hold a series of matchmaking events, make full use of various trade promotion platforms including the China International Import Expo, leverage the role of national demonstration zones for import trade promotion and innovation, enhance the facilitation of import trade, optimize the sources and structure of imported goods, and better meet the needs of industrial development and people's pursuit of a better life," he continued.