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Speech by CE at luncheon hosted by HKETO Brussels and HKTDC in Paris (English only) (with photos/video)
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     Following is the speech by the Chief Executive, Mr C Y Leung, at a luncheon with French businessmen hosted by Hong Kong Economic and Trade Office, Brussels, and Hong Kong Trade Development Council in Paris today (June 9, Paris time):

Mr Moreau (President of the France-Hong Kong Association, Mr Bertrand Moreau), Mr Wong (Regional Director (Europe) of the Hong Kong Trade Development Council, Mr Stephen Wong), Consul-General (Consul-General of France in Hong Kong and Macau, Mr Eric Berti), ladies and gentlemen,

     Good afternoon.  It is a great pleasure to be here, in Paris, with you today. This is my first official visit here, but I have been to Paris many times before, for business and for leisure. My first trip was some 42 years ago. To me, Paris is not unlike Hong Kong - a place of interesting contrasts.  Grandiose yet intimate, timeless yet contemporary, French yet international.

     My delegation members, I am sure, are equally fascinated by the multifaceted Paris. Our Secretary for Innovation and Technology, Nicholas Yang, is with us today.  Also here are 19 Hong Kong engineering students, who are eager to learn all about Paris' technology, inventions, arts, cuisine and sports - knowing, of course, the celebrated UEFA Euro will return to France for a record third time tomorrow night.

     We, Hong Kong, see France as our long-standing friend. French presence in Hong Kong goes back more than 150 years. Today, more than 12 000 French nationals are living and working in Hong Kong, according to the Consulate's register. They are joined by about 800 French companies, taking up just about every sector and industry, from banking and financial services to a wealth of retail and brand offerings.

     You need not take my word on that. Just a few months ago, the French newsweekly Le Point published a four-page article called "Hong Kong, the new French village". The story had this to say about Hong Kong's attractions, and I quote: "French people appreciate Hong Kong's many advantages for doing business, the lack of red tape, the feeling that anything is possible, the strong French community with its shops and restaurants, and the quality of life offered by its beaches and beautiful nature close to the city." Unquote.

     Indeed, Hong Kong is one of the best places to live in, and to do business. We are a global city that flies the flag of free trade. For the past 22 years, the Washington-based Heritage Foundation has named Hong Kong the world's freest economy. That explains the strong bilateral trade between France and Hong Kong. Last year, our merchandise trade reached 8.5 billion euros, and France was our fourth largest trading partner in the European Union.

     It certainly helps that the Hong Kong Government does not own businesses. You do not have the Government or government-owned enterprises as your competitors. There is an open and level playing field for all.  Indeed, about a week ago, Switzerland's International Institute for Management Development ranked Hong Kong as the world's most competitive economy. We offer you the rule of law, intellectual property rights protection, English as one of the official and commonly used languages, open society and international lifestyle. And we offer unique connectivity to the Mainland of China.

     By this I refer to our unique, combined advantages of "one country" and "two systems". Under "one country", we enjoy preferential access to the vast market of the Mainland of China, and first-mover advantage in the Mainland's economic liberalisation. Under "two systems", we maintain our cosmopolitan character and connection to the international community. We are, in short, a "super-connector" between the Mainland and the rest of the world.

     Hong Kong's global intermediary role is at the heart of Hong Kong's future. Certainly in finance, as China's international financial capital and the world's China financial capital. In 2014, the Hong Kong Monetary Authority and Bank of France signed a memorandum of understanding to enhance co-operation in Renminbi business. We look forward to further collaboration, in Renminbi business, asset management, insurance, and other financial services.

     And in professional services, as well. Hong Kong professionals in accounting, legal, dispute resolution, contract management, consulting, engineering and many other sectors are world-class. In entering a new business environment, investing in large infrastructure projects, handling commercial negotiations, you will find that our professionals are ideal service providers. Our services in maritime, aviation, railway and port management are in wide demand as well, as I told our Toulouse friends at a business luncheon the day before yesterday.  Do look to Hong Kong when you think of growing your business - in France, China, Asia, or just about anywhere else.

     But Hong Kong's "super-connector" role, Hong Kong's economy, does not end here. We are moving up the value chain, as France and the rest of the world are. First and foremost on our agenda is innovation and technology (I&T). We are developing I&T as a new economic sector, to provide more, better and diversified jobs for Hong Kong people. For our young people.

     And that is a big reason why we are here. For France is, of course, a global leader in I&T.

     I would say I&T is a natural outgrowth of our fascination with technology ¡V with gadgets and screens of all sizes. The GfK Connected Consumer Index, for example, ranks Hong Kong top among 78 countries and eight world regions. Ours are the world's most connected consumers, from smart phones, tablets, to videogame consoles, connected cars and alike.

     Technology infrastructure aside, Hong Kong has a sophisticated capital market, robust intellectual property protection, and a large pool of research talents. And we are close to the Mainland of China - a huge consumer market and, perhaps, the world's biggest and most efficient production base. So we are in good shape to move in the I&T direction.

     Among our efforts was the establishment of the Innovation and Technology Bureau and the Academy of Sciences in Hong Kong last year, to give direction and focus to Hong Kong's I&T future. We followed up this year with a variety of I&T policies and programmes, backed by a massive financial commitment of 2 billion euros. We will upgrade and expand I&T infrastructure, fund start-ups together with private venture capital funds, encourage mid-stream applied research, and develop Hong Kong as a smart city.

     Our efforts are paying off. Last year, the number of start-ups in Hong Kong increased by 50 per cent, year-on-year. Tech hubs are springing up - including the much welcomed French Tech set up earlier this March. Our innovations and research breakthroughs have gained international recognition and won major awards in world exhibitions. Last year, the world-renowned medical and life-science research institution, Karolinska Institutet of Sweden, announced the establishment of their first overseas regenerative medicine centre in Hong Kong. The Massachusetts Institute of Technology, too, announced the launch of their first overseas Innovation Node in Hong Kong.

     It is an encouraging start. But we can do much more, much faster, by learning from our friends.

     This morning, after meeting the Prime Minister, we visited Usine IO.  I was impressed by its flourishing programme of hardware prototyping and its fast-expanding start-up culture. We also went to Oncopole yesterday, a cancer research facility, before touring Paris-Saclay - the extraordinary research and education cluster south of Paris.  Our students were particularly excited when visiting CentraleSupˆmlec, the renowned research and education institution in engineering sciences.

     As Hong Kong grows apace in I&T, I am sure there is good opportunity for bilateral co-operation - in business, and in education. Just over a week ago, our Science Park, in partnership with a French network of green and social start-ups, launched an incubation and entrepreneurship programme for Hong Kong youngsters. CentraleSupˆmlec has also signed agreements with two of our universities to launch degree and exchange programmes.

     At present, more than 370 French students are studying or on exchange programmes in Hong Kong. We welcome more to come - our universities are among the world's best, with English as the medium of instruction. We are increasing non-local student quotas, launching fellowships, and giving out more grants for joint research programmes.

     And I certainly hope that our friendship extends beyond campuses.  Hong Kong, after all, is a community where East meets West - rooted in Chinese traditions, and enriched by cultures of other worlds, France included. For 24 years, Hong Kong's French community has put together Le French May, one of Asia's largest and most popular arts festivals. This year's Le French May counts more than 120 programmes and reaches over a million people.

     Hand in hand with Le French May is Le French GourMay, which spotlights fine French wine and cuisine. Indeed, Hong Kong people can't seem to get enough of either, given all the French restaurants and cafes in Hong Kong. Given, too, that more than 62 per cent of Hong Kong's wine imports last year came from France. We can certainly drink to that.

     Let us drink, too, to the growing ties and bonds between France, Paris and Hong Kong. As for the immediate future - tomorrow's opening UEFA Euro match - I wish you all an enjoyable game at the stadium.

     Thank you.

Ends/Thursday, June 9, 2016
Issued at HKT 22:44

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