FS concludes Riyadh trip

Financial Secretary Paul Chan completed the final day of his visit in Riyadh, Saudi Arabia, yesterday by participating in several events at the Future Investment Initiative (FII) with his delegation.

Speaking at a themed session at the conference, Mr Chan highlighted that Hong Kong is actively developing as an international centre for green tech and green finance, contributing to the future of the New Silk Road.

Also during the FII, Mr Chan witnessed the signing of co-operation agreements between a number of Hong Kong organisations and enterprises with their Saudi counterparts.

Among such agreements are a memorandum of understanding between the Hong Kong Monetary Authority and the Saudi Arabia Public Investment Fund to jointly establish a new investment fund of up to US$ 1 billion and a pact between the Hong Kong Science & Technology Parks Corporation and the FII Institute to join the instituteâs investment ecosystem.

Earlier in the day, the Financial Secretary attended the listing ceremony of the SAB Invest Hang Seng Hong Kong Exchange Traded Fund at the Saudi Exchange.

The product, developed in collaboration with Saudi Awwal Bank's subsidiary, SAB Invest, provides Middle East investors with opportunities to invest in Hong Kong's capital markets.

After concluding his visit, Mr Chan departed for Hong Kong last night and is scheduled to arrive in the city this afternoon.