Chen Maobo: Plans to lead a delegation to visit Saudi Arabia again this year to deepen Middle Eastern partnerships.

Hong Kong Financial Secretary Paul Chan Mo-po revealed earlier at the first LEAPEAST technology summit that he plans to lead a delegation to visit Saudi Arabia later this year. He will lead elites from the financial, investment, and professional services industries to visit leading companies in local infrastructure, green technology, healthcare, and advanced manufacturing sectors to explore specific cooperation projects and further deepen the partnership between Hong Kong and the Middle East. In his speech at the opening ceremony of LEAPEAST yesterday, Paul Chan Mo-po said that there is huge potential for cooperation between Hong Kong and Saudi Arabia, describing both sides as gateways to each other's regions. He emphasized that the capital markets of the two places are closely linked through products such as Exchange-Traded Funds (ETFs). Data shows that ETFs tracking the Saudi stock market are already listed in Hong Kong, with assets under management increasing from an initial $1 billion to $1.5 billion, with a market share of over 40% in global ETFs investing in Saudi. There are also ETFs tracking Hong Kong stocks listed in Saudi, still the largest ETF in the Middle East market. Paul Chan Mo-po welcomed Saudi and Gulf companies to use Hong Kong's capital markets for listing, bond issuance, and asset management activities, making Hong Kong an international financing and risk management platform connecting Asian and global investors. He also pointed out that as a gateway and platform, Hong Kong can help mature cutting-edge technology and advanced manufacturing companies in the region to settle in Saudi and further expand into European and African markets. Paul Chan Mo-po mentioned that the "finance + strategy" approach makes the capital market an innovative catalyst, with Hong Kong's capital market not only continuously expanding in scale but also developing in depth and diversity. Last year, Hong Kong topped the global rankings in terms of IPO fundraising, including many global technology leaders, and this year's IPO momentum looks even more optimistic, making Hong Kong the preferred financing destination for Chinese and international emerging technology companies. Initiated by Saudi Arabia, the global technology summit LEAP is held in Hong Kong for the first time this year as the regional flagship event LEAPEAST. The event, held from July 8th to 10th at the Hong Kong Convention and Exhibition Center, brings together 343 speakers, over 450 exhibitors, and more than 250 startups, expected to attract investors with over $3 trillion in asset management. The exhibition features four main thematic stages covering areas such as artificial intelligence, Siasun Robot & Automation, financial technology, biotechnology, and smart cities.