Hong Kong, under “one country, two systems”, maintains its status as a free port, with the free flow of capital, information and talent amid the current challenging international political and economic environment, the city’s finance chief said on Wednesday.
Paul Chan Mo-po said this when he met a number of European Union (EU) officials and European business leaders to promote Hong Kong’s advantages on the first day of his visit to Brussels, Belgium.
He met Deputy Director-General for Financial Stability, Financial Services and Capital Markets Union of the European Commission, Alexandra Jour-Schroeder; Managing Director for Asia and the Pacific of the European External Action Service, Erik Kurzweil; and Hors Classe Adviser in the Directorate-General for Budget of the European Commission, Siegfried Ruhl.
They exchanged views on economic growth, finance, trade and fiscal policies both in Hong Kong and Europe and discussed ways to achieve greater cooperation and build closer “win-win” relations, the government said in a statement.
The Hong Kong Special Administrative Region adheres to international best practices in business, accounting and professional services, has stable and predictable economic and trade policies, and continues to innovate and develop its financial markets, said Chan.
He invited the European business and investment community to make full use of the HKSAR as a platform to raise funds and develop opportunities in the Chinese mainland and Asia.
Pointing out that there is room for Hong Kong and Europe to strengthen cooperation in various fields, the financial secretary said the two sides should engage in more exchanges of experience, mutual learning and joint development.
In the financial sector, the two sides may explore arrangements for dual listing by European enterprises, develop fixed-income and currency markets, promote green finance and financial innovation, and better channel private savings to support industries and economic development, he said.
Chan also met Valérie Urbain, chief executive officer of Euroclear, a European financial intermediary institution, to exchange views on the global economic situation and financial market developments.
He outlined the city’s advantages when he met a representative of a renowned local family to learn about the development of its business interests in Hong Kong and Asia. He suggested that the group increase its investments in the SAR and use the city as its regional headquarters.
During the third day of his Europe tour, the financial secretary called on the Head of Mission and Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to the EU, Cai Run, and Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to the Kingdom of Belgium, Fei Shengchao.
They had in-depth exchanges on China-Europe relations and the latest developments in the HKSAR.
