Hong Kong Business Delegation Strengthens Economic Ties with Saudi Arabia Through FII Summit Engagement

A Hong Kong business delegation led by Financial Secretary Paul Chan concluded a significant mission to Riyadh from October 27-31, 2025, strengthening economic cooperation between Hong Kong and Saudi Arabia through participation in the Future Investment Initiative (FII) Summit and extensive business engagements. The delegation, jointly organized by the Hong Kong Special Administrative Region Government and the Hong Kong Trade Development Council (HKTDC), comprised approximately 40 representatives from key sectors including innovation and technology, smart cities, artificial intelligence, fintech, and biotechnology.

The mission's importance lies in strengthening ties with Saudi Arabia, the Middle East's largest economy with a GDP of US$1.084 trillion in 2024 and Hong Kong's fourth-largest trading partner in the region. Saudi Arabia's Vision 2030 economic transformation plan, which aims to reduce oil dependence and create a private sector-led open economy, presents substantial opportunities for Hong Kong and mainland enterprises. The delegation's composition reflects strong business interest in the Saudi market and underscores Hong Kong's role as a critical platform connecting international and mainland Chinese enterprises.

During the FII Summit opening ceremony on October 28, Financial Secretary Paul Chan shared Hong Kong's experience in promoting public-private partnership models and highlighted the HKSAR Government's acceleration of Northern Metropolis development as a new engine for economic diversification and innovation hub. The delegation engaged in multiple high-level meetings with Saudi institutions including Saudi Awwal Bank, Saudi National Bank, Riyadh Chamber of Commerce and Industry, and the Saudi Chinese Business Council, facilitating exchanges in investment, cross-border finance, and market expansion.

The delegation visited major Saudi development projects including Diriyah Gate Development Authority, Red Sea Global, the New Murabba smart city, and The Garage technology park, exploring collaboration opportunities in infrastructure and technological development. A key achievement was the Hong Kong-Saudi Arabia Business Dinner on October 30, which served as a platform for in-depth discussions and resulted in the signing of multiple memoranda of understanding and cooperation agreements covering smart mobility, green energy, AI, robotics, and digital transformation.

Among the significant agreements signed were partnerships between the Hong Kong Trade Development Council and Digital Cooperation Organization, Beijing Yunji Technology Co., Ltd and Young Life Travel and Tourism Co., Limited, I2Cool Company Limited and Madar Building Materials Company Limited, Maphive Technology Limited and Arabian Business Machines Company, and Shenzhen RabbitPre Intelligence Technology Co., Ltd and HIBOBI Technology Limited. Anna Cheung, Assistant Executive Director of the HKTDC, emphasized that the mission helped Hong Kong and mainland enterprises explore new business opportunities and strengthen Hong Kong-Saudi economic ties, with the HKTDC continuing to promote bilateral cooperation through exhibitions, forums, and business matching activities. The HKTDC maintains extensive global operations with information available at https://www.hktdc.com/aboutus.

This enhanced cooperation positions Hong Kong as a strategic gateway for Saudi enterprises seeking access to the Chinese Mainland and broader Asian markets while supporting Saudi Arabia's economic diversification goals under Vision 2030. The successful mission demonstrates Hong Kong's evolving role as a superconnector in global trade and investment flows, particularly between Middle Eastern and Asian markets, with potential implications for cross-border investment patterns, technology transfer, and regional economic integration.