Swiss time: Financial Secretary Henry Tang meets Swiss Bankers' Association Chairman Pierre Mirabaud in Geneva.

Financial Secretary Henry Tang has invited Swiss bankers to use Hong Kong as a regional base to manage their businesses in Asia.

Attending the Swiss Private Bankers' Association's meeting in Geneva yesterday, Mr Tang said with Asia's high savings rate and strong economic growth, Hong Kong benefits from having a fast-growing economic hinterland, especially with the Mainland, which could be one of the fastest growing wealth management markets in the world.

Noting it would take time for private bankers to build their reputation in this niche market, Mr Tang emphasised the importance of them coming in early, saying: "You should consider whether you wish to be a leader or a follower in this growing market."

Swiss, HK similarities

Mr Tang then met Swiss Bankers' Association Chairman Pierre Mirabaud before attending a lunch meeting hosted by the association. He highlighted Hong Kong's role as an international financial centre and a gateway to the Mainland.

"Switzerland and Hong Kong are both relatively small but outward-looking economies with huge economic hinterlands," Mr Tang said. 

The two economies are among the world's top providers of banking, securities and foreign exchange services. Their financial services industries account for a good portion of their respective GDP and provide top employment opportunities.

"But we will not be complacent. We are continuously seeking ways to improve our business environment further," Mr Tang said.

Mr Tang will head to France tomorrow to attend promotional events for Hong Kong's film industry at the Festival de Cannes.