Authorities in Hong Kong are promoting the city’s financial sector to the world, including by luring Middle East companies to consider listing opportunities in the city.
Hong Kong is in the midst of an «aggressive» policy to promote itself to the world, including companies in the Gulf states, with opportunities such as listing on the local exchange and tapping investor capital in the region.
«The markets, for some, are in the mainland, Hong Kong and Southeast Asia. By listing here, they could be closer to customers,» said financial secretary Paul Chan in an interview with «SCMP», adding that he hoped the companies would visit the city within the year.
Valuation Support
According to Chan, this could result in a win-win situation with Hong Kong and mainland China fund management companies seeking diversification and better returns amid geopolitical tensions while Middle Eastern firms could benefit from access to both international and mainland capital.
«This added liquidity will provide support for their valuation,» said Chan, who previously revealed that the Hong Kong stock exchange had encouraged Saudi oil giant Aramco to list in the city.
Aggressive Promotion
Interest in the Middle East is part of broader plans for Hong Kong to promote itself to the world following its recent commitment to a full reopening. As part of such efforts, Chan is currently leading a task force that includes local officials, business leaders and the Trade Development Council and Tourism Board to develop related strategies.
«We need to be a lot more aggressive and proactive in reaching out to the international community, to tell good stories of Hong Kong, and also extend invitations for people […] to see for themselves the opportunities that await them,» Chan explained.
