Financial Secretary Paul Chan has urged French investors and companies to make use of Hong Kong to expand their portfolios and businesses amid ongoing geopolitical uncertainties.

The call came as he arrived in Paris on Monday as part of a visit to Europe.

Upon arrival, he met Chinese Ambassador to France Deng Li and exchanged views on China-France and China-Europe relations, as well as the latest developments in Hong Kong.

Chan also met a group of representatives from the French Asset Management Association as well as industry to promote collaborations on investments between the two regions.

"For French investors seeking both capital security and investment returns, Hong Kong is an ideal destination for asset diversification with its advantages under 'One Country, Two Systems'," he told the representatives.

"It is an opportune time for French financial institutions to leverage Hong Kong's advantages to expand their asset and wealth management businesses in Asia."

Chan also noted Hong Kong's steady economic growth last year and in the first quarter of this year, with two major credit rating agencies as well as the International Monetary Fund offering "positive assessments" on the city's fiscal policies.

He added that the asset management industry in the SAR has reached nearly 3.9 trillion euros, and that the Greater Bay Area, with a population of 87 million, also has "substantive demand" for offshore asset allocation.

Separately, the finance minister met representatives from Asia Centre Paris, a think tank that focuses on geopolitical strategies, international relations, as well as governance and economy.

He told them that the "One Country, Two Systems" principle is here to stay, which makes the SAR the best "gateway" for global capital to access the mainland market.

"In recent years, apart from continuously developing trade and finance, Hong Kong has been actively nurturing the innovation and technology industry, and promoting the development of emerging industries such as artificial intelligence and biomedicine," Chan said.

"The vast market of the Greater Bay Area and the development of emerging and future industries will create broader application scenarios and development space for European products and enterprises."

Chan also noted the ongoing trend for mainland firms to set up factories and expand in Europe through Hong Kong.



Edited by Thomas McAlinden