Hong Kong Exchanges and Clearing Limited (HKEX) plans to open an office in Riyadh in 2025.
The new office will strengthen HKEX’s Middle East presence as the Group looks to promote greater connectivity between China and the Gulf region, aiming to facilitate new opportunities for its customers and issuers around the world.
HKEX Chief Executive Officer Bonnie Y Chan said:
“We are delighted to be opening a Middle East office in Riyadh, marking the first step in elevating our presence across this vibrant and fast-growing region. This underscores our strategic commitment to promoting greater capital market connections between China and the Middle East, whilst supporting the ambitions of our broad range of customers from the region and around the world. As investment ties between the Middle East and Asia grow stronger, Hong Kong and HKEX’s roles in connecting capital and opportunities between these regions have become more important than ever.
Joining our offices in Beijing, London, New York, Shanghai, and Singapore, the new Riyadh office will enable us to foster greater global coverage and facilitate access for Middle East clients to Asia’s most international, diverse and liquid capital markets in Hong Kong.”
HKEX has made significant progress in its engagements in the Middle East, with meaningful collaboration and partnerships. These include signing a Memorandum of Understanding with the Saudi Tadawul Group, welcoming Asia first and the world’s biggest Saudi-focused Exchange-Traded Fund (ETF), and adding the Saudi Exchange, Abu Dhabi Securities Exchange, and Dubai Financial Market to HKEX’s list of Recognised Stock Exchanges. These initiatives demonstrate HKEX’s commitment to fostering collaboration and enhancing market accessibility between China and the Middle East.
Additionally, the listing of two ETFs tracking Hong Kong-listed equities this week on the Saudi Exchange marks a significant milestone in the capital market connectivity between Hong Kong and Saudi Arabia, and builds on the listing of the first Saudi-focused ETF in Hong Kong last November.
