Chen Haolian: Hong Kong's financial status is well connected internally and externally and can help Middle Eastern companies expand into the Asian market.

Hong Kong Financial Services and the Treasury Bureau Deputy Director Chen Haolian said that Hong Kong has the advantage of free flow of capital and a low tax system, and also uses the common law system familiar to the Middle East. He believes that this can attract more Middle Eastern companies to cooperate with Hong Kong and help Middle Eastern companies enter the mainland market. He pointed out that under the current global situation, businesses will still prioritize their operations, and unless they have no intention to expand in Asia, Hong Kong remains a good "landing point." Chen Haolian mentioned that he led a delegation to attend the Dubai Fintech Summit earlier, promoting the development of green fintech in both regions. Some companies who were part of the delegation have successfully made contacts with local companies, with fintech companies hoping to expand their Middle East business and Chinese companies taking the opportunity to engage with local businesses. Chen Haolian stated that Hong Kong and some Middle Eastern countries have signed memorandums of understanding, aiming to support each other's fintech activities. Middle Eastern companies are practical, have clear strategies, and are willing to collaborate with Hong Kong tech companies to find solutions when they realize they lack relevant network support. Chen Haolian accompanied the Chief Executive of the Hong Kong Special Administrative Region to participate in an economic forum in Ningbo at the end of April. He mentioned that many mainland companies hope to leverage Hong Kong's status as an international financial center to support their business development, including fundraising and listing, believing that the forum provides a platform for business matching. Chen Haolian stated that by the end of 2023, Hong Kong has more than 2,700 single-family offices, and he believes this number will continue to grow. He also mentioned that Hong Kong ranks second in the world and first in Asia in terms of cross-border wealth scale. A report predicts that Hong Kong's cross-border wealth management scale will surpass Switzerland by 2027 or 2028, becoming the world's number one.