FS leads delegation to attend Future Investment Initiative Summit in Saudi Arabia (with photos/video)
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In the morning, Mr Chan attended the opening ceremony of the Summit and spoke at a session titled "Board of Changemakers: Public–Private Powerbrokers". The session brought together leaders from governments and businesses around the world to share insights on how public-private partnerships (PPPs) can foster economic and social development, energy transition, and the advancement of technological sectors, such as artificial intelligence and biotechnology, within the broader context of geopolitical and technological transformation.
Mr Chan shared Hong Kong's experience in promoting various PPP models, including the Build-Operate-Transfer model and the "Rail-plus-Property" model, which have incentivised private sector participation in infrastructure development. He noted that the Hong Kong Special Administrative Region (HKSAR) Government is expediting the development of the Northern Metropolis as a new engine for economic diversification, a key base for innovation and technology industries, and a source of quality employment opportunities. Hong Kong is adopting a more flexible and proactive approach in developing the Northern Metropolis, including streamlining land allocation, importing talent and co-investment arrangements, with a view to accelerating planning, construction and industry development.
Mr Chan also cited the establishment of the Hong Kong Investment Corporation (HKIC) Limited by the HKSAR Government as another example of PPP. As patient capital, the HKIC supports the landing of companies and ecosystem building through co-investment and other means. It also partners with other funds in the market to channel capital into industries of strategic value, helping enhance Hong Kong's long-term competitiveness and create quality jobs for society.
Other speakers in the session included the Minister of Investment of Saudi Arabia, H.E. Khalid bin Abdulaziz Al-Falih; the Minister of Planning and Economic Development and Minister of International Cooperation of Egypt, H.E. Dr Rania Al-Mashat; as well as chairpersons and chief executive officers of various multinational corporations.
Mr Chan also attended other thematic sessions of the Summit, including a keynote speech delivered by the Vice-President of the People's Republic of China, Mr Han Zheng.
In addition, Mr Chan held bilateral meetings with a number of local political and business leaders, including the Vice Minister of Finance of Saudi Arabia, Mr Abdulmuhsen bin Saad Alkhalaf; the Group Chief Executive Officer of Diriyah Company, Mr Jerry Inzerillo; the Chief Executive Officer of New Murabba Development Company under the Public Investment Fund of Saudi Arabia, Mr Michael Dyke; and the Chief Financial Officer of Red Sea Global, Mr Martin Greenslade.
In the evening, Mr Chan attended a business seminar hosted by China Investment Corporation and delivered a keynote speech. He pointed out that the Middle East has set out an ambitious development vision and possesses strong growth momentum. At the same time, China is pursuing high-quality development, including a high-level two-way opening-up. There is vast room for collaboration between the two regions in areas such as capital, technology and industrial connectivity.
Mr Chan said that Hong Kong, as the world's freest economy, enjoys distinctive advantages under the "one country, two systems" principle. These include the common law system, free flow of capital, goods and information, a simple and low tax regime, and a linked exchange rate system between the Hong Kong dollar and the US dollar. As the world's No. 3 international financial centre, Hong Kong is not only an international fundraising and professional services platform for Mainland enterprises going global, but also an ideal gateway for Middle Eastern businesses to access the Mainland market. He noted that around 300 Mainland enterprises are in the pipeline for listing in Hong Kong, many of which plan to expand into the Middle East.
Mr Chan also highlighted Hong Kong's leading position in offshore Renminbi (RMB) business, asset and wealth management, as well as the family office sector. Hong Kong is the world's largest offshore RMB hub. With increasing trade between China and Saudi Arabia settled in local currencies, the demand for RMB-denominated assets and risk management products is expected to grow. Hong Kong is also Asia's premier centre for asset and wealth management, with assets under management exceeding US$4.5 trillion and a vibrant ecosystem for family offices. He extended a sincere invitation to more enterprises and institutions from Saudi Arabia and the wider Middle East to leverage Hong Kong's platform, and join hands to open a new chapter in cooperation between Asia and the Middle East.
Mr Chan will continue his visit to Saudi Arabia today (October 29, Riyadh time).
Ends/Wednesday, October 29, 2025
Issued at HKT 9:00
Issued at HKT 9:00
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