Déclaration de M. François Huwart, secrétaire d'Etat au commerce extérieur, sur les relations commerciales entre la France et Hong-kong, à Hong-kong le 21 novembre 2001. (texte en anglais).
Date: 2001-11-21
Orateur: François Huwart
Fonction: FRANCE. SE au commerce extérieur

Distinguished guests, ladies and gentlemen, It is a great pleasure to be with you today at the end of this much too short Chinese journey. Allow me first to extend my thanks to the Hong Kong General Chamber of Commerce and the French Chamber of Commerce for making this meeting possible. I should add that I see in the co-organization of this event a clear evidence of the successful integration of the French business community in Hong Kong. I have just been in Beijing where I inaugurated a vast exhibition of French products that focuses on advanced technologies. I must say that I had there a foretaste of the dynamism of the French business community while noticing that the French Chamber of Commerce of Hong Kong put together for the benefit of the French exhibitors a presentation of Hong Kong in Beijing. 1- French businesses in Hong Kong The French business community in Hong Kong is the largest in continental Asia. A rough estimate of all French firms exceeds 450, according to a survey carried out by the French Trade Commission. Most of these entities have been created over the past twenty years, and roughly a third of them by young French entrepreneurs. The majority of them are not only operating on the local market, but also on the natural hinterland of Hong Kong, namely southern China and, notably, the Guangdong Province. Moreover, a significant part of them are utilizing Hong Kong as a regional base. According to the local authorities, French companies have set up in the Special Administrative Region (SAR) 43 regional headquarters (as compared to 38 in 1999) and 88 regional offices. On the whole, French firms employ around 30 000 staff in Hong Kong. Over 5 000 French nationals are living in Hong Kong, more than in Mainland China. If the number of French firms is certainly the main reason behind the size of this community, actually a significant part of French professionals are also working in local or non-French foreign companies. This, again, provides evidence of the successful integration of the French community in Hong Kong, as well as of its dynamism. According to the French official statistics, the stock of French foreign direct investment in Hong Kong is just under 800 millions euros. Though significant, this amount does not give an exhaustive picture of the French interests in the SAR. French financial institutions rank indeed as one of the major foreign players of the Hong Kong financial center. The four largest French banks: BNP Paribas, Crédit Agricole/Indosuez, Société Générale and Crédit Lyonnais are very active in Hong Kong. Just a month ago, the largest French insurer AXA, who has more than one million clients in Hong Kong, decided to set up here their regional platform. The French building companies, notably Bouygues, Vinci and Bachy-Soletanche have participated in many infrastructure or building projects. The international airport, the Convention centre, the very popular Escalators in Central, made by CNIM, are all reminders of this participation. Taking into account these references, I have no doubt that there is here, in your very open and competitive market, a brilliant future for our building companies. Last but not least, the French companies are providing here services in most of the fields where they have a competitive edge, for instance, on the telecommunication market, Thalès was chosen to build the control system of The Spectrum, and in the environment business, Vivendi Environment and Suez are key players of the waste management arena. 2- Bilateral trade One word on our bilateral trade relationship. During the first seven month of this year, we have exported to the Territory 2.3 billions worth of goods. In value, our exports have rebounded to the levels reached just before the Asian crisis. Hong Kong was the second outlet for our products in Asia, behind Japan, but before China, and the 12th in the world. Yet, our market share (between 1 and 1,5%) is still too low and there is room for improvement. Considering the fact that we have imported just above 400 millions from Hong Kong, the bilateral trade surplus for the first seven months of this year, 1.9 billions , is our fourth bilateral trade surplus in the world. Of course, part of this surplus is due to the role of Hong Kong as a regional trade hub. Through Hong Kong, we are exporting more to Asian countries and notably to mainland China than we are importing from Asian countries and especially from mainland China. Part of this surplus is thus the compensation for the heavy bilateral deficit with mainland China. By the way, it also demonstrates that French exporters are intensively using Hong Kong as a hub. Nevertheless, France has a strong presence on the local market, not only with traditional products such as luxury goods and high quality foods products, but with all sorts of hi-tech devices, particularly electronic and telecommunication appliances as well. And the sky is not the limit since we are supplying airplanes to Cathay Pacific and Dragonair and helicopters to the Government. Bilateral flows of services are also quite significant, amounting for one third of the total trade. Indeed, France is one of the favorite destinations outside China for Hongkong tourists with more than 26 000 visitors in the first seven months (+18%). But foreign direct investment by Hongkong in France is still very weak. May I take this opportunity to remind you that France is one of the most favored inward investment locations in the world, attracting the biggest share of foreign investment in the euro zone and is the best gateway to the European market. The local office of Invest in France, the new agency created to spearhead efforts to attract inward investment can help you to set up projects of investment in France. Conclusion : confidence in the future of Hong Kong and China The density of our bilateral economic and financial relationship reflects the attractiveness of Hong Kong and the high level of confidence of French enterprises in its future. Let me stress this: I absolutely share this confidence. In spite of the Asian crisis, Hong Kong has achieved a smooth political transition. Hong Kong has consequently kept its competitive edge and is more and more integrated with mainland China which is set to become a powerhouse of the world economy and a leading force for the growth of international trade. Need I mention that China was officially welcomed into the WTO last week in Qatar? Hong Kong will continue to benefit from the opening and the development of China as its main trade partner but also as the first investor on the mainland. During the last forty years Hong Kong has undergone major transformations, demonstrating each time its capacity to rebound and to seize opportunities. Considering this impressive track record, how could we not be confident in the future of Hong Kong? Thank you very much (Source http://www.commerce-exterieur.gouv.fr, le 3 novembre 2001)