Business Daily Media

Men's Weekly

.

Hong Kong: reinforcing links with Saudi Arabia and the Middle East

HONG KONG SAR - Media OutReach Newswire - 31 October 2024 - Paul Chan, Financial Secretary of the Hong Kong Special Administrative Region (HKSAR) Government, is visiting Saudi Arabia to attend the FII (Future Investment Initiative) and strengthen the HKSAR's connections with the country and the wider Middle East region.



Hong Kong’s Financial Secretary, Paul Chan, speaking during his visit in Saudi Arabia.
Hong Kong’s Financial Secretary, Paul Chan, speaking during his visit in Saudi Arabia.

In Riyadh (October 30), Mr Chan joined the listing ceremony at the Saudi Exchange for the first exchange-traded fund (ETF) in Saudi Arabia that invests in Hong Kong stocks, a product that is the result of collaboration between Albilad Bank of Saudi Arabia and Hong Kong's CSOP Asset Management Limited.

Mr Chan highlighted that, with this being the largest ETF in the Middle East, it would attract more regional investors and broaden funding sources for the Hong Kong market, while diversifying the investment product offerings in the Saudi market, fostering the development of its ETF market, creating a win-win situation.

Speaking at a breakfast meeting hosted by the Hong Kong Exchanges and Clearing Limited (HKEX) in Riyadh, Mr. Chan said: "Last year, we reached an agreement with the Saudi Exchange and Indonesia Stock Exchange to allow companies in these countries to secondary list on our Stock Exchange. As they come to Hong Kong, they are able to access both international capital and capital from the Mainland under the Connect Schemes."

The Financial Secretary pointed out that Saudi Arabia's Vision 2030 has brought major reforms and opportunities, promoting capital investment from Asian markets.

"As a key component of Vision 2030, Saudi Arabia has embarked on the Saudi Green Initiative, with clear targets to increase the share of renewable energy, reduce carbon emissions, and enhance land and sea protection. This vision resonates with us well, and we stand ready to contribute," Mr. Chan said.

With Hong Kong's unique advantage of "one country, two systems", Mr. Chan said the city enjoys convenient, and at times privileged, access to the Mainland market while retaining its distinctive features, including a common law system, a judiciary that exercises powers independently, free flow of capital, goods, information, and talent, a low and simple tax regime, and a currency pegged to the US dollar.

The first ETF in Saudi Arabia that invests in Hong Kong stocks is listed to create a win-win situation.
The first ETF in Saudi Arabia that invests in Hong Kong stocks is listed to create a win-win situation.

He also identified three key areas where Hong Kong has become the premier international financial centre connecting the Middle East with the Chinese market: as a deep and broad fund-raising market, asset and wealth management, and green and sustainable finance. These areas, Mr Chan said, provide diverse investment offerings for investors and enterprises in the Middle East, and providing financial support to regional economic development and green transformation.

"Clearly, Hong Kong is an ideal platform for Saudi and Middle Eastern green and sustainable projects looking to access funds in our part of the world," Mr Chan said.

Hashtag: #hongkong #brandhongkong






The issuer is solely responsible for the content of this announcement.

News from Asia

Dusit International expands across the lodging spectrum, launches ninth hotel brand – Dusit Hotels

Refined upper-upscale brand is tailored for 120–300 key properties in prime urban and resort locations, delivering market-relevant experiences enriched by Dusit’s signature Thai-inspired gracious...

Cushman & Wakefield Takes Gold, Silver and Bronze Prizes at Phoenix Tree Marketing Awards 2025

HONG KONG SAR - Media OutReach Newswire - 14 July 2025 - Cushman & Wakefield, a leading global real estate services firm, has won the Gold Prize in the Integrated Marketing category at the 1...

"Eternal City" Pompeii Exhibition Opens in Hunan, Marking New Sino-Italian Cultural Exchange

CHANGSHA, CHINA - Media OutReach Newswire - 11 July 2025 - On July 8, the exhibition "Encountering Pompeii: The Eternal City" opened at the Hunan Museum's Special Exhibition Hall 1. It is jointly ...

Anhui Unveils Teaser for 2025 World Manufacturing Convention, Extending a Global Invitation to Innovate Together

HEFEI, CHINA - Media OutReach Newswire - 11 July 2025 - On July 10, Anhui officially released the teaser for the upcoming 2025 World Manufacturing Convention, setting the stage for this premier ga...

Shenzhen hosts first promotion event for 2025 Global AI Machines and Electronics Expo

SHENZHEN, CHINA - Media OutReach Newswire - 14 July 2025 - The inaugural promotion event for the 2025 Global Artificial Intelligence Machines and Electronics Expo (AIE) was held in Shenzhen, a ...

Meey Group Hosts the 'Proptech Capitalization Strategy Forum: Born in Vietnam - Build for the World'

Affirming Its Pioneering Role in Realising Vietnam’s National Digital Asset Policy Over 20 investment fund leaders and 20 top companies in attendance...

Datumstruct Enhances Singapore Experience Centre for Command Centre Technology

SINGAPORE - Media OutReach Newswire - 15 July 2025 - Datumstruct, a provider of critical facilities solutions across Asia, has announced the revamp of its Singapore experience centre (XC 2.0)...

VinFast Advances Ecosystem Strategy in Philippines’ EV Catch-Up

MANILA, PHILIPPINES - Media OutReach Newswire - 15 July 2025 - With nearly 19,000 electric vehicles sold in 2024, the Philippines is looking to catch up in Southeast Asia’s EV race as ecosystem pl...

Rising AI-Driven Cyber Attacks and Geopolitical Tensions Shaping Asia Pacific Cyber Risk Landscape, Aon study

SINGAPORE - Media OutReach Newswire - 15 July 2025 - Aon plc (NYSE: AON), a leading global professional services firm, has released the Asia Pacific (APAC) findings from its 2025 Cyber Risk Repor...

Far East Hospitality Strengthens its Presence in Japan with Two New Hotels in Osaka

Group enters Osaka with two Far East Village Hotels in Namba South and Honmachi districts, reinforcing its commitment to double its footprint to 2000 rooms in Japan. SINGAPORE - Media OutReach New...

How to ensure your manufacturing business survives international tariff turmoil

Optimising your operations in FY2026 will help you combat the challenges of a volatile trading environment. Up, down, in out…Since the commence...

Why Apptio is Enhancing Visibility into AI and Hybrid Cloud

AI investments have become a strategic priority for business with the mindset that if you're not using AI, you're falling behind. But according to...

Beyond borders: Building a scalable strategy for international hiring

For many Australian businesses, growth increasingly depends on thinking beyond local borders.  As wage pressures rise, and specialised talent pool...

The Next Generation of Maritime Sustainable Solutions

As organizations globally seek innovative ways to improve sustainability and their impact on Earth, the American Waterways Operators (AWO), a lead...

Demand for Home Batteries surges as Federal Rebate Kicks In

A leading provider of energy solutions VoltX Energy has seen a 400% increase in demand for home batteries in the past three weeks as people put d...

Why Sport Remains the Safest Bet in an Uncertain World

When Rome was in crisis, its leaders did not retreat to the Senate. They went to the circus. To the chariot races. To the gladiators. Sport was no...

Sell by LayBy