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Following is a speech by the Chief Executive, Mr Donald Tsang, in Paris today (November 9, Paris time) at the opening of the Hong Kong France Business Partnership Plenary organised by the Hong Kong Trade Development Council: (English only)
Distinguished guests, ladies and gentlemen,
Good afternoon, and thanks for coming. Today marks the second meeting of the Hong Kong France Business Partnership - a partnership that, I am sure, will have a long and fruitful future.
Why am I sure? Because, more and more French companies - just like the ones represented here this afternoon - are taking advantage of Hong Kong's unique business platform and special relationship with the Mainland of China. I know that I can count on all of you here, as the pioneers of this business relationship, to spread the good news about why Hong Kong is the best place in Asia for business.
There are plenty of good reasons why French business feels at home in Hong Kong. We have the largest French community in Asia. We have the largest concentration of French firms in Asia - with about 570 at the last count. We have the best French International School in Asia. We host the biggest French cultural festival in Asia. We have some of the best French cuisine anywhere in Asia. And we are spoilt for choice for French brands, which always command a premium.
This French connection has been built on the same foundation that has attracted more than 6,000 international companies to do business in Hong Kong - low and predictable taxes, the rule of law, the free flow of capital and information, a clean and efficient government, minimum red tape, global connectivity and local knowledge.
All of these attributes have served us well - and I hope will be able to attract more French businesses to Hong Kong, especially small and medium-sized enterprises. Hong Kong has been described as the SME capital of the world. They represent 98% of all companies in Hong Kong and generate a large percentage of our trade and commerce. French SMEs looking for a stepping stone into Asia need look no further than Hong Kong - we have the institutional software, the links with the Mainland, the networks within Asia, the international contacts and the concentration of French business that all add up to a winning formula.
The market in the Mainland of China, in particular, can be a confusing place for the newcomer. In Hong Kong, we can help SMEs to find their bearings. As the President of the French Chamber of Commerce and Industry in Hong Kong, Mr Richard Burton, said recently: "Working in Hong Kong gives you a decade of China experience overnight." I could not have put it better myself.
Hong Kong is China's number one trade and investment hub - the principal gateway to the Mainland's huge marketplace. Hong Kong adjoins the "factory of the world" in the Pearl River Delta of Guangdong Province. About 80,000 Hong Kong-linked enterprises employ more than 11 million people in Guangdong Province. If you are looking for connections to do business in China, there's 80,000 on our doorstep.
Ladies and gentlemen, Hong Kong is Asia's world city because of the commitment and drive of the people like yourselves, and the businesses you represent. It offers the best trading environment and an active and supportive international community that has chosen Hong Kong as their home.
I congratulate you on your vision in establishing this business partnership. It represents a truly effective vehicle for promoting trade, investment, and business cooperation between France and Hong Kong, with a special focus on China. I understand that today you will be discussing the special role of Hong Kong under China's 11th Five-Year Plan, as well as focusing on new partnership possibilities in the area of technology. I wish you every success in all your business ventures ahead.
Thank you very much.
Ends/Thursday, November 9, 2006
Issued at HKT 21:02
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