THE France-Hongkong Investment Club was set up by the French Trade Commission in an effort to encourage more French investment here and enhance the Hongkong presence in France. It is a little more than one year old. French investment has been slow in coming to the region. Since 1989, such investment has been less than two per cent of the total investment by French companies abroad. The club works closely with the Invest in France Hongkong office, which was set up about the same time, which, along with the club, is also located in the Trade Commissioner's office. The Investment Club consisted of about 40 businessmen, bankers, lawyers and consultants, and its main aim was to help set up joint ventures, explained the French Trade Commissioner, Yves de Ricaud. He said it was important to develop investment on a long-term basis. The aim was to provide a vehicle for communication to private and public businesses which were already active in, or intended to develop, cross-investment in French-Hongkong trade and industries. The club also circulated regular information on investment and merger and acquisition opportunities in France or Hongkong exclusively to members. The club has been active in arranging meetings between its board and important visitors from France. Through such meetings, board members, who are both French and Chinese, are acquainted with developments in France generally, or on matters which are of specific interest to club members. The Trade Commission is expanding the club by inviting leading members of the local business community to join it as patrons. Once the club gathers momentum, it expects to hold conferences and seminars on investment opportunities in Hongkong and in France. Meanwhile, a corresponding club is to be set up in France which it is hoped will enhance the chances of achieving one of the primary goals of this venture - to promote cross investment.