ExclusiveEU budget chief pitches collaboration and bonds on Hong Kong leg of Asia tour
Piotr Serafin says EU remains open to capital from city and mainland China despite pursuing a ‘de-risking strategy’ in certain key sectors
The European Union will remain open to capital from mainland China and Hong Kong even as the bloc pursues a “de-risking” strategy in certain key sectors, its budget chief has said on his first visit to the city.
Piotr Serafin, the European commissioner for budget, anti-fraud and public administration, also said that the EU was keen to explore opportunities for financial collaboration with Hong Kong in areas such as green bonds, describing the city as a “bridge” to Asia.
It is understood that Serafin’s trip, which ran from Sunday to Wednesday morning, marked the first time a member of the EU’s executive cabinet had visited the city since before the Covid-19 pandemic.
Throughout his trip, which included meetings with government officials and attending the HSBC Global Investment Summit, Serafin sought to promote EU bonds as an “extremely strong” option for investors looking to diversify their assets.
“When we talk about de-risking, indeed the focus is on some strategic sectors where we believe we need to be able to regain what I would call strategic autonomy, but when it comes to the finances, Europe has been and will remain open, and that will not change,” he said.