Financial Secretary Paul Chan, on a visit to Spain, has called on the Plenary of the City Council of Madrid, a local innovation and technology centre, and a Spanish innovation accelerator and venture capital fund.

Mr Chan yesterday met President of Madrid's City Council Plenary Francisco de Borja Fanjul Fernandez-Pita to discuss strengthening co-operation between Madrid and Hong Kong.

Briefing the president on developments in Hong Kong across various sectors, Mr Chan highlighted that, with staunch support from China’s central government, the “one country, two systems” arrangement will continue to be implemented in Hong Kong over the long run.

The finance chief emphasised that Hong Kong will maintain an international, open and friendly business environment and practise the common law.

He said he hoped the two places can continue to nurture mutually beneficial co-operation in areas such as finance, innovation and technology (I&T), culture, and education.

He also invited Spanish enterprises to invest in Hong Kong and leverage its advantages to explore the vast markets of the Greater Bay Area, Mainland China more broadly, and Asia.

Yesterday afternoon, Mr Chan called on Chinese Ambassador to Spain Yao Jing. Mr Chan briefed the ambassador on Hong Kong’s latest situation, as well as its development direction and strategies.

They also discussed economic and trade co-operation between China and Spain, and the promotion of business and I&T collaboration between Hong Kong and Spain.

Mr Chan then met Director General of the Centro para el Desarrollo Tecnologico y la Innovacion (CDTI) Jose Moises Martin Carretero.

The CDTI provides funding support for projects aligned with Spain’s I&T development strategy, and promotes technological co-operation between Spain and other countries and regions.

Mr Chan highlighted the progress Hong Kong has made in recent years through investing substantially in I&T, as well as the support provided by Hong Kong’s full-spectrum financial services to I&T enterprises and projects at various stages of their development.

The two men also exchanged ideas around strengthening co-operation in technology projects and matching funds with projects.

Mr Chan also led a delegation of Hong Kong technology startups on a visit to Wayra, one of Spain’s innovation accelerators and venture capital funds. Speaking to investment team leaders, he discussed ways to promote mutual co-operation.

During the visit, Mr Chan was given an introduction to Wayra’s operations and development strategies. Through its global network, Wayra helps startups connect with technology and capital worldwide, and provides guidance to help them expand their markets.

Mr Chan said he hoped his visit would facilitate better connections between the I&T ecosystems of both places and help startups leverage opportunities for collaboration.