Europe should welcome more Chinese investment and deepen industrial partnerships with China as it seeks to reduce its dependence on US technology and finance the industries of the future, according to one of the architects of the euro.

Christian Noyer, a founding vice-president of the European Central Bank, former governor of the Bank of France and lead author of a landmark proposal to integrate the continent’s capital markets, said Europe should remain open to Chinese investment as it sought greater economic independence.

“We cannot rely entirely on America,” said Noyer – referring to Europe’s urgent need to develop its own artificial intelligence and technology infrastructure – in an interview with the South China Morning Post on Tuesday.

He was speaking during a visit to Hong Kong, after an earlier stop in Singapore, to promote Paris as a gateway for international investors seeking access to European markets after Brexit.

His comments came as Europe navigates an increasingly difficult position between the world’s two largest economies.

The European Union has imposed tariffs on Chinese electric vehicles and tightened scrutiny of strategic sectors, while Washington has expanded restrictions on advanced technologies and sought to limit China’s access to components critical for AI development.