“This collaboration marks a significant stride in solidifying Hong Kong’s position as a leading international financial centre,” Laurence Li, the FSDC’s chairman, said during the opening ceremony of AFF.
“By joining forces with the FSDP, [the FSDC will] strive to establish comprehensive financial market connectivity that benefits businesses in both regions and facilitates cross-border investment flows,” Li said.
Middle East sovereign wealth funds to diversify China investments in 2024
Middle East sovereign wealth funds to diversify China investments in 2024
It is hoped that Hong Kong and Saudi can strengthen cross-border investments, share best practices in fintech and talent development, boost connectivity through market promotion activities, and strengthen their financial alliance.
“With our shared vision for a mutually beneficial partnership, the FSDP and the FSDC are poised to unlock collaboration opportunities for the two financial markets,” said Faisal Alsharif, the FSDP’s director general.
The agreement is aimed at enhancing collaboration in key areas, including supporting capital market connectivity, conducting joint research and knowledge sharing, organising exchange programmes and joint events, and harnessing synergies and mutual interests.
Chinese business expansion in Middle East to get boost from PIF investment
Chinese business expansion in Middle East to get boost from PIF investment
“[The agreement] solidifies our commitment to mutual collaboration and sets the stage for the advancement of our collective goals in fostering a robust, inclusive and innovative financial landscape,’ Alsharif said.
“This agreement is a testament to our commitment to facilitating ties connecting the Saudi Arabian and Hong Kong financial markets.”
Hong Kong, Saudi Arabia eye deeper cooperation, Arab expansion into Asia
Hong Kong, Saudi Arabia eye deeper cooperation, Arab expansion into Asia
Deepening ties between China and the Middle East complement the Gulf region’s ambitious development plans and quest to become a cradle of innovation in technology, he added.
Hong Kong, meanwhile, offers plenty of opportunities for Gulf countries to tap its developed financial services sector, Chan said.
