Published: 15:04, May 24, 2024 | Updated: 15:13, May 24, 2024
Chan encourages French enterprises to pursue prospects in HK
By Wang Zhan
Hong Kong’s Financial Secretary Paul Chan Mo-po (first left), accompanied by Under Secretary for Constitutional and Mainland Affairs Clement Woo Kin-man (second right), attends a brunch meeting with representatives of France’s business community and its financial institutions, including BNP Paribas Chairman Jean Lemierre (first right), in Paris, France, on May 23, 2024. (PHOTO / HKSAR GOVT)

HONG KONG – Financial Secretary Paul Chan Mo-po on Thursday promoted Hong Kong’s unique advantages to business and financial communities in France and encouraged local enterprises to pursue business opportunities in the special administrative region.

Starting his itinerary shortly after arriving in Paris, he attended a brunch meeting where he briefed representatives of French financial institutions and the business community on developments in Hong Kong.

Chan encouraged French financial institutions and enterprises to use Hong Kong as a platform to explore the mainland and other Asian markets

Under the “one country, two systems” framework, Hong Kong continues to practice the common law, maintain a free, open, friendly, and efficient business environment, and ensure the free flow of capital, goods, people, and information, he said. 

The linked exchange rate system operates smoothly, the financial regulatory system aligns with international standards, the rule of law is robust, and the city has good law and order, Chan told them.

Elaborating on the policies and achievements of the HKSAR government in actively attracting enterprises and talents, he encouraged French financial institutions and enterprises to use the city as a platform to explore the Chinese mainland and other Asian markets.

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He also had in-depth exchanges on various topics including the business environment in Hong Kong following the completion of the Basic Law Article 23 legislation, economic and trade exchanges between the SAR and the Middle East and Southeast Asia regions, and ongoing advancement of mutual access programs between the mainland and Hong Kong financial markets.

Financial Secretary Paul Chan Mo-po (first left) visits a French company, Prophesee, which specializes in sensor chips, and learns about its technology and business development, in Paris, France, on May 23, 2024. (PHOTO / HKSAR GOVT)

The finance chief also visited a French company, Prophesee, which develops sensor chips, and had a briefing on its technology and business development. Its innovative visual sensor technology, in combination with artificial intelligence, can discern information that is difficult to gather with traditional technologies. It is applicable in various industries and scenarios such as photography in mobile phones, healthcare, autonomous vehicles, and industrial automation.

With the assistance of Invest Hong Kong and support from the Hong Kong Science and Technology Parks Corporation, the company began operating in the SAR in 2023 and is cooperating with the Hong Kong Applied Science and Technology Research Institute on technological development.

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With a view to expanding into the mainland and Asian markets, Prophesee will soon establish a regional headquarters in Hong Kong.

Welcoming the company for the move, the financial secretary commended it on leveraging Hong Kong’s vibrant financing platform to grow its operations.

Financial Secretary Paul Chan Mo-po (third left), accompanied by Under Secretary for Constitutional and Mainland Affairs Clement Woo Kin-man (second left), exchanges views with the executives of La Régie Autonome des Transports Parisiens, which operates the public transportation system in Paris, on May 23, 2024. (PHOTO / HKSAR GOVT)

During the day, Chan also visited La Régie Autonome des Transports Parisiens, which operates the public transportation system in Paris and owns Hong Kong Tramways.

Financial Secretary Paul Chan Mo-po (left) visits the control center of Paris Metro Line 14, on May 23, 2024. (PHOTO / HKSAR GOVT)

The officials introduced various businesses of the company to Chan and outlined how it is using innovative technology to improve service quality and implement low-carbon transformation.

Several large-scale projects and new development areas will be launched in Hong Kong in the future, which will involve establishing various transportation network facilities, Chan told them, inviting the firm to consider bringing its knowledge and technology to these projects.

He later visited the control center of Paris Metro Line 14.