FS sees stronger HK-Europe ties moving forward

Financial Secretary Paul Chan said Hong Kong and Europe can step up cooperation further as European countries show a "strong desire for change" amid an evolving global landscape. Writing in his weekly blog, Chan said his talks with business and political leaders during his visit to France, Belgium and Switzerland last week revealed Europe's growing focus on "strategic autonomy" amid rising geopolitical tensions, alongside efforts towards multilateralism and diversification from trade risks. The discussions also covered investment in innovative and technological development, particularly in areas such as artificial intelligence. "We see opportunities for pragmatic cooperation and achieve win-win outcomes between Hong Kong and Europe in areas such as trade, investment and innovation," he wrote. Chan noted that Hong Kong's "value proposition" for Europe lies in its robust financial markets, the opportunity to develop each other's markets, as well as financial innovation. "During this trip, I met with representatives from the European Union and international institutions who have not visited Hong Kong since the pandemic. "Through candid exchanges and discussions, they have deepened their understanding of Hong Kong's market, strengthened their positive outlook on its future development, and helped correct some misunderstandings." Chan added that Hong Kong can serve as a bridge between mainland and European businesses trying to establish a stronger presence in the other's market. Edited by Edmond Fong