Hong Kong Promotes Innovation and Tech Opportunities to European Firms in Madrid and London

Berita Baru, Hong Kong – Hong Kong’s vibrant economy and strategic location offer boundless opportunities for European firms. Starting in Spain, a delegation led by Hong Kong‘s Financial Secretary Paul Chan, is visiting Madrid (September 22-25, 2024) and London (September 25-28, 2024) to promote Hong Kong’s advantages, in particular the city’s burgeoning innovation and technology ecosystem.

In a keynote speech to Spanish business, financial, I&T leaders during a business luncheon, Mr Chan pointed out that with the singular advantages under the “one country, two systems” principle, Hong Kong was solidifying its role as a “super-connector” linking Mainland China to the rest of the world. Mr Chan welcomed Spanish enterprises to use Hong Kong as a springboard to tap into the vast markets of the Guangdong-Hong Kong-Macao Greater Bay Area, Mainland China and broader Asia.

“We are the only jurisdiction in China practising the common law system, our judiciary exercising its powers independently. Information, capital, goods and people flow freely in and out of our city. Our taxes are low and simple, with a currency pegged to the US dollar. Our regulatory systems and professional services align with the best international standards,” Mr Chan said.

Highlighting Hong Kong’s full spectrum of fund-raising and financial services, Mr Chan also pointed out that Hong Kong was a leader in green finance in Asia with its green standards compatible with those of the European Union. At the same time, Hong Kong’s burgeoning I&T ecosystem can collaborate with Spain’s tech ecosystem across key sectors such as artificial intelligence, biotechnology, fintech and new energy and new materials.

The Hong Kong delegation engaged with relevant institutions and members of Spanish venture capital funds and I&T circles to seek co-operation opportunities. With the fruitful results in Madrid, Mr Chan’s next stop is London.