Speech by FS at reception in celebration of 2025 Bastille Day
Following is the speech by the Financial Secretary, Mr Paul Chan, at the reception in celebration of 2025 Bastille Day today (July 14):
Consul General Christile Drulhe (Consul General of France in Hong Kong and Macau), Deputy Commissioner Li Yongsheng (Deputy Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the Hong Kong Special Administrative Region), distinguished guests, ladies and gentlemen,
Bonsoir. Good evening.
It's a great pleasure to be here with you, tonight, in honour of Bastille Day, a day of surpassing joy throughout France, and one that resonates far beyond its borders, including right here in Hong Kong.
Tonight is a wonderful opportunity to reflect on the strong and deepening ties between France and Hong Kong. They are thriving, and in so many promising ways.
France remains one of Hong Kong's most important trading partners in the European Union, with our bilateral trade in goods reaching around EUR9 billion last year. And Hong Kong, I must say, is a passionate admirer of French products. French elegance is quite literally everywhere in this city, especially when you count the handbags carried and the fashion worn by men and women in this city.
And of course, our enduring love for Bordeaux and Burgundy wines, champagnes and, increasingly, fine French liquors and spirits, continues to flourish, as the Consul General rightly mentioned earlier.
We are also seeing a growing interest from French companies and professionals in the opportunities here in Hong Kong. Last year, around 350 French companies operated here, spanning a wide range of industries. French technologies and expertise have long contributed to Hong Kong's development in such areas as smart mobility, energy efficiency, construction engineering and waste management.
I believe more are on the way. Notably, a global leader in aeronautical services from France will establish facilities in Hong Kong for aircraft dismantling, parts recycling, and manpower training. This investment aligns with our vision of becoming a regional hub for aircraft parts processing and trading. The company also has plans to set up ancillary operations in Zhuhai. It shows how we are joining hands to bring French industrial excellence into the Greater Bay Area.
In the innovation and technology sector, France ranks among the top three international sources of start-up founders in Hong Kong. It not only reflects French entrepreneurial spirit, but also the vast potential of our tech co-operation.
And I'm pleased to note that in the first half of this year alone, over 74 000 French visitors came to Hong Kong, a 9 per cent year-on-year increase. We hope many more will follow.
Looking ahead, I am confident that the relationship between Hong Kong and France will continue to grow from strength to strength, especially in the broader context of the ever-deepening China-France relationship.
Last year, our country became the largest Asian investor in France, and Hong Kong continues to be a vital conduit for Mainland investments into Europe, and as a springboard for Mainland companies expanding into the continent. At the same time, we remain the gateway of choice for French and European enterprises seeking opportunities in China and across Asia.
That role is more important than ever today. In a world beset with uncertainty - geopolitical risks, tariff chaos, and the rise of protectionism and unilateralism - we stand to support and benefit from stronger co-operation between China and France, and between Asia and Europe.
Hong Kong stands as a steadfast "super connector", a reassuring beacon of free and open trade, a champion of cross-border investment, and an international city of stability, diversity and opportunity.
This is evident in our financial markets. Last year, the Hong Kong stock market recorded an 18 per cent gain, and has grown by another 20 per cent so far this year. This year, we raised around EUR14 billion through IPOs so far, putting us the leading IPO market in the world. International investors, including European ones, are playing key roles as cornerstone participants. And since last September, waves of capital from the US and Europe flowed into our markets, as global investors recognised that they might have under-weighted their allocations to the Greater China region, particularly in the technology and green energy sectors.
In short, the world, and its capital, has turned to Hong Kong as a safe, welcoming and reliable haven.
More and more, the international community is rediscovering the strengths of Hong Kong's "one country, two systems" framework. A cornerstone of it is our unwavering commitment to the rule of law, underpinned by the common law system and a judiciary exercising powers independently. Over the past few years, the restoration of stability as well as law and order has not only safeguarded the rights and freedoms of our people, but also reinforced Hong Kong's appeal as a safe and world-class business destination.
This is reflected in our rising position in various international competitiveness rankings and positive feedback we continue to receive from foreign businesses operating here.
Ladies and gentlemen, as the Consul General noted earlier, there is so much more that Hong Kong and France can do together - in technology, housing, education, arts and culture, and in celebrating the many pleasures of life. I look forward to more exchanges and deeper collaboration between our two communities.
And that should include a visit by the Champions League winners, or better yet, Les Bleus, to our world-class Kai Tak Stadium.
Let us continue to build lasting bonds between Hong Kong and France, France and Hong Kong.
Merci beaucoup. Thank you very much.
Speech by FS at reception in celebration of 2025 Bastille Day Source: HKSAR Government Press Releases
Speech by FS at reception in celebration of 2025 Bastille Day Source: HKSAR Government Press Releases
