Chen Maobo: Hong Kong is accelerating the promotion of cross-border financial and technological cooperation with the Middle East.

Hong Kong Financial Secretary Paul Chan Mo-po, who is currently visiting Saudi Arabia, continued to lead a delegation to attend the Future Investment Initiative conference and engage in in-depth discussions with local political and business leaders, as well as visit local innovation and conservation projects. Paul Chan Mo-po stated that Hong Kong is accelerating its efforts to promote cross-border financial and innovation cooperation with the Middle East, including initiatives such as mutual recognition of capital markets, such as the trading of Exchange-Traded Funds (ETFs), and encouraging Middle Eastern companies to list in Hong Kong. In the morning, Paul Chan Mo-po attended a breakfast meeting hosted by HSBC at the Future Investment Initiative conference and shared his views on deepening economic and financial relations between Hong Kong and the Middle East. He mentioned that Hong Kong will continue to leverage its advantages as an international financial center and provider of top-tier professional services to assist mainland Chinese companies in expanding globally, establishing industrial and supply chains, expanding overseas markets, and providing funding and professional services to Middle Eastern companies looking to enter the mainland and Asian markets. Additionally, with its highly internationalized financial system, diverse sources of funding, and innovative financing solutions, Hong Kong can further facilitate the cross-border flow of capital between the two regions, providing flexible and diversified financing options for infrastructure investment, such as infrastructure loan securitization. Paul Chan Mo-po also noted that many startups and technology companies from Hong Kong and the Greater Bay Area have established operations in the Middle East. He highlighted Hong Kong's commitment to developing artificial intelligence as a core industry and using AI to enhance various sectors, as well as the government's application of AI to improve efficiency and service quality. Following this, Paul Chan Mo-po led the delegation to visit the largest state-owned commercial bank in the region, the Saudi National Bank, where they held discussions with senior bank executives. Members of the Hong Kong delegation introduced their businesses and expressed their desire to connect with local financial institutions, investors, and businesses in Saudi Arabia to enter the Middle Eastern market. Paul Chan Mo-po emphasized the active promotion of two-way investment and capital flows between Hong Kong and Saudi Arabia, supporting Hong Kong and mainland Chinese companies in expanding their presence in the Middle East and identifying new business opportunities.