Financial secretary explores business opportunities for Hong Kong in Berlin and Frankfurt

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Photo shows Mr Chan (first right) visiting a German company engaging in artificial intelligence, and explaining that Hong Kong’s advantages are favourable to Germany companies to undertake scientific research.

26th September 2023 – (Berlin) The Financial Secretary of Hong Kong, Mr Paul Chan, has embarked on a visit to Berlin, Germany, as part of his itinerary to explore potential business collaborations and investment opportunities. During his visit, Mr Chan engaged with key players in the fields of artificial intelligence, insurance technology, family offices, and the German Chamber of Commerce and Industry. He also met with the Minister of the Chinese Embassy in Germany to discuss various aspects of Hong Kong’s economic and social development, as well as Sino-European relations and geopolitics. Following his visit to Berlin, Mr Chan is scheduled to continue his trip in Frankfurt.

In Berlin, Mr Chan’s visit began with meetings at two German companies specialising in artificial intelligence and insurance technology. These engagements provided Mr Chan with valuable insights into their businesses and development plans. The discussions also focused on the latest trends in these sectors, allowing for an exchange of views on the potential collaboration between Hong Kong and Germany. Mr Chan took the opportunity to present Hong Kong’s proactive strategies in fostering innovation and technology (I&T), showcasing the city’s special policies designed to attract strategic enterprises and talented individuals.

Highlighting Hong Kong’s strengths, Mr Chan emphasised the city’s solid foundation in basic research and its ability to attract global capital and top talents. He also highlighted the advantages offered by the Guangdong-Hong Kong-Macao Greater Bay Area, which boasts excellent capabilities in advanced manufacturing and product commercialization. With policies in place to facilitate cross-boundary data flow and the movement of production factors from Mainland China to Hong Kong, Mr Chan expressed Hong Kong’s potential as an ideal base for German I&T companies to conduct scientific research and expand their businesses in the Mainland and the entire Asian market.

Continuing his engagements, Mr Chan met with representatives of European family offices to discuss investment opportunities in the financial and I&T industries in Asia. He underscored Hong Kong’s leading position in asset and wealth management in Asia, emphasizing the city’s robust professional network, connections, and a favourable tax system. Additionally, he highlighted Hong Kong’s comprehensive fundraising platform, which includes venture capital, private equity funds, and listing opportunities on the stock exchange. Mr Chan also highlighted the mature and vibrant art trading market in Hong Kong, further enhancing its appeal as an investment destination.

During a lunch meeting with the Germany Chamber of Commerce and Industry, Mr Chan introduced the attendees to Hong Kong’s business environment and economic situation. He emphasised Hong Kong’s unique status as a city that benefits from both the vast Chinese market and the flexibility provided by the “two systems” principle. Hong Kong continues to uphold the common law system, the rule of law, and the free flow of capital, information, and people. Mr Chan encouraged the German business community and enterprises to capitalize on Hong Kong’s advantages as a gateway to expand their presence in Mainland China and the broader region.

In his meeting with the Minister of the Chinese Embassy in Germany, Mr Chan shared his observations and achievements from his European trip. They discussed various aspects of Hong Kong’s economic and social development, as well as the dynamics of Sino-German and Sino-European relations. The economic situation in Europe and geopolitical considerations were also part of the discussion.

To foster further collaboration, Mr Chan had a dinner meeting with representatives from the German Private Equity and Venture Capital Association. The discussions centred around promoting closer ties and exploring opportunities for collaboration between the business communities of Hong Kong and Germany.

Following his visit to Berlin, Mr Chan’s visit will continue in Frankfurt, where he is expected to further explore potential business opportunities and investment prospects. After concluding his engagements in Frankfurt, Mr Chan will return to Hong Kong, bringing back valuable insights and potential collaborations for the city’s economic development.