Hong Kong Business News

Financial Secretary Paul Chan will lead a 110-strong delegation to Riyadh, Saudi Arabia, tomorrow to strengthen Hong Kong-Middle East connections in areas such as trade, finance, and innovation and technology (I&T).

The delegation will aim to promote Hong Kong on multiple fronts, tell good stories about Hong Kong, and explore business opportunities.

During the visit, which will run until October 31, the delegation will attend the 8th edition of the Future Investment Initiative. Mr Chan and other members of the delegation will give speeches or join discussion sessions at the event, with a view to promoting Hong Kong’s unique role and functions as a “super connector” and “super value-adder”.

They will outline how Hong Kong can support the development of the Middle East and the Global South, and actively contribute to the Belt & Road Initiative.

The delegation will also hold multiple breakfast meetings, roundtable discussions, roadshows and receptions, and will meet local political and business leaders to promote Hong Kong’s strengths and advantages on multiple fronts.

Members will seek to facilitate exchanges and co-operation between Hong Kong and Saudi Arabia and the wider Middle East, and to broaden funding sources for Hong Kong.

Furthermore, the delegation will attend listing ceremonies for the first two Exchange Traded Funds tracking Hong Kong stock indices on the Saudi Exchange.

The delegation comprises heads or representatives of the Belt & Road Office, the Monetary Authority, the Hong Kong Exchanges & Clearing, the Hong Kong Science & Technology Parks Corporation, and more.

It also includes representatives from various financial, I&T, and professional services institutions and associations, as well as founders or senior executives from more than 30 technology companies and startups.

Mr Chan will return to Hong Kong at around noon on November 1. During his absence, Deputy Financial Secretary Michael Wong will be Acting Secretary.

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