FS begins visit to France (24.5.2024)
24.5.2024

The Financial Secretary, Mr Paul Chan, started his itinerary shortly after arriving in Paris, France, yesterday morning (May 23, Paris time). He promoted Hong Kong's unique advantages to the local business and financial communities, and visited enterprises to encourage them to create business opportunities in Hong Kong. In the morning, Mr Chan attended a brunch meeting and briefed leaders of French financial institutions and business communities about Hong Kong's latest situation, including the economic and financial positions, the performance of the asset market, and the measures by the Hong Kong Special Administrative Region (SAR) Government to build a vibrant economy and strive for development. Mr Chan emphasised at the brunch meeting that under the "one country, two systems" framework, Hong Kong continues to practise the common law, maintain a free, open, friendly, and efficient business environment, and ensure the free flow of capital, goods, people, and information. The linked exchange rate system operates smoothly, and the financial regulatory system aligns with international standards. The rule of law is robust, and the city has good law and order. He also focused on elaborating on the policies and achievements of the SAR Government in actively attracting enterprises and talents, and encouraged French financial institutions and enterprises to use Hong Kong as a platform to explore the Mainland and Asian markets. He had in-depth exchanges with participants on several topics, including the business environment in Hong Kong after the completion of the Basic Law Article 23 legislation, economic and trade exchanges between Hong Kong and the Middle East and Southeast Asia regions, the ongoing advancement of the mutual access programmes between the Mainland and Hong Kong financial markets, the measures recently announced by the Central Government to deepen capital market co-operation between the Mainland and Hong Kong, the development of innovation and technology in Hong Kong, the venture capital ecosystem and opportunities, as well as strengthening co-operation between Hong Kong and France in green and transition finance. In the afternoon, Mr Chan visited a French company, Prophesee, which develops sensor chips, and listened to the company's executives in introducing their technology and business development. The company's innovative visual sensor technology, combined with artificial intelligence, can differentiate information that is difficult to be gathered with traditional technologies. It is applicable in various industries and scenarios such as photography in mobile phones, medical, autonomous driving, industrial automation, and more. With the assistance of Invest Hong Kong and support from the Hong Kong Science and Technology Parks Corporation, the company started operations in Hong Kong last year, and is co-operating with the Hong Kong Applied Science and Technology Research Institute on technological development. They will soon establish a regional headquarters in Hong Kong with a view to expanding into the Mainland and Asian markets. Mr Chan expressed a warm welcome to the enterprise for setting up research and production bases in Hong Kong, and fully utilising Hong Kong's vibrant financing platform to grow their business and achieve continuous development. Mr Chan also visited La Régie Autonome des Transports Parisiens (RATP), which operates the public transportation system in Paris. The company is involved in operating various types of public transportation systems and vehicles worldwide, and currently owns Hong Kong Tramways Limited wholly. During the meeting, the company's management introduced the company's various businesses, including using innovative technology to improve service quality and implementing low-carbon transformation. Mr Chan remarked that several large-scale projects and new development areas will be launched in Hong Kong in the future, and they would involve different transportation network facilities. He welcomed the company to actively consider participating in the projects and bringing relevant knowledge and technology to Hong Kong. Mr Chan then visited the control centre of Paris Metro Line 14. The delegation to Paris also included the Under Secretary for Constitutional and Mainland Affairs, Mr Clement Woo, and the Special Representative for Hong Kong Economic and Trade Affairs to the European Union, Miss Shirley Yung. Today (May 24, Paris time), Mr Chan will attend the "Guangdong-Hong Kong-Macao Greater Bay Area—Europe (France) Economic and Trade Cooperation Exchange Conference", jointly hosted by the Guangdong Provincial Government, the Hong Kong SAR Government, and the Macao SAR Government. Ends/Friday, May 24, 2024 Issued at HKT 9:00 NNNN