{"id":52421,"date":"2026-05-26T03:21:15","date_gmt":"2026-05-26T03:21:15","guid":{"rendered":"https:\/\/www.europesays.com\/europe\/52421\/"},"modified":"2026-05-26T03:21:15","modified_gmt":"2026-05-26T03:21:15","slug":"editorial-paul-chans-trip-just-one-step-in-strengthening-relations-with-europe","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/europe\/52421\/","title":{"rendered":"Editorial | Paul Chan\u2019s trip just one step in strengthening relations with Europe"},"content":{"rendered":"

Hong Kong is often caught up in disputes between Europe and China, ranging from trade to geopolitics. That has sometimes distracted people from the city\u2019s natural and long-standing position as a bridge between the two major trading blocs. Financial Secretary Paul Chan Mo-po therefore had his work cut out during his five-day tour<\/a> of France, Belgium and Switzerland.<\/p>\n

To make his case, he not only had to convince European officials about the city\u2019s advantage as a global business hub but also that it is serious about fighting terrorist financing and money laundering. The latter concerns are paramount for many European officials. Such efforts need to be sustained over time.<\/p>\n

The trip comes at a sensitive time as trade friction<\/a> has worsened with China. The latest summit<\/a> between President Xi Jinping and US President Donald Trump has eased tensions and could provide an opening for Hong Kong to establish better relations with Europe.<\/p>\n

Representatives from the European financial sector have expressed concerns that current asset allocations are too exposed to US dollar assets, according to Chan. But he noted that Hong Kong, as one of the world\u2019s most active stock markets and a hub for venture capital, private equity and wealth management, offers a full range of investment products and risk management tools for diversification.<\/p>\n

The city\u2019s many advantages, from finance to common law, are not easily replaceable. It has strived to be a clean business hub, but combating terrorist financing and money laundering cannot be done by Hong Kong alone. It must be an international joint effort, built on trust and respect. Over the years, Hong Kong has made every effort to accommodate demands from the United States and Europe, but both Western centres of power often impose unilateral sanctions. China\u2019s position is clear: it only recognises multilateral sanctions under international law, not the arbitrary dictates of foreign powers.<\/p>\n

Chan attended the \u201cNo Money for Terror\u201d ministerial conference in Paris. Hong Kong\u2019s record speaks for itself. The Financial Action Task Force (FATF), associated with the Organisation for Economic Cooperation and Development, listed the city as the first jurisdiction in the Asia-Pacific to institutionalise measures against money laundering and terrorism financing. The FATF was originally a French initiative for the Group of Seven (G7) developed economies. While China is not a G7 member, Hong Kong\u2019s special status has enabled it to participate in enhancing global financial governance. Such efforts are beneficial for all sides and should be strengthened.<\/p>\n","protected":false},"excerpt":{"rendered":"Hong Kong is often caught up in disputes between Europe and China, ranging from trade to geopolitics. That…\n","protected":false},"author":2,"featured_media":52422,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[2007,1485,81,66,4,7589,90,6182,31458,3838,29724,1196,45,7162],"class_list":["post-52421","post","type-post","status-publish","format-standard","has-post-thumbnail","category-europe","tag-asia-pacific","tag-belgium","tag-china","tag-donald-trump","tag-europe","tag-fatf","tag-france","tag-hong-kong","tag-no-money-for-terror","tag-paris","tag-paul-chan-mo-po","tag-switzerland","tag-united-states","tag-xi-jinping"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/europe\/wp-json\/wp\/v2\/posts\/52421","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/europe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/europe\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/europe\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/europe\/wp-json\/wp\/v2\/comments?post=52421"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/europe\/wp-json\/wp\/v2\/posts\/52421\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/europe\/wp-json\/wp\/v2\/media\/52422"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/europe\/wp-json\/wp\/v2\/media?parent=52421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/europe\/wp-json\/wp\/v2\/categories?post=52421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/europe\/wp-json\/wp\/v2\/tags?post=52421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}