HKEX to Establish Riyadh Office in 2025 to Strengthen Middle East Ties

Hong Kong Exchanges and Clearing Limited announced plans to open an office in Riyadh during 2025, as part of efforts to expand its presence in the Middle East and strengthen capital connections between China and the Gulf region.

The Riyadh office will serve as a regional hub to support investors and companies in Saudi Arabia, providing direct access to Hong Kong's financial products and services. The exchange aims to help Middle Eastern clients capitalize on growth opportunities in Asia while connecting regional investors with Hong Kong's capital markets.

HKEX Chief Executive Officer Bonnie Y Chan stated that the move represents a strategic commitment to fostering closer ties between Chinese and Middle Eastern capital markets. The Riyadh office will join HKEX's existing operations in Beijing, London, New York, Shanghai, and Singapore.

HKEX has already made significant progress in the region through several initiatives:

• Signed a memorandum of understanding with Saudi Tadawul Group in 2023 to explore cross-listings, exchange products, and environmental, social, and governance collaboration
• Added the Saudi Exchange, Abu Dhabi Securities Exchange, and Dubai Financial Market to its list of recognized stock exchanges
• Facilitated the listing of Asia's first and world's largest Saudi-focused exchange-traded fund in Hong Kong in 2023
• Hosted the FII PRIORITY Asia and Capital Markets Forum to connect investors and companies between regions
• Approved a warehouse delivery point for metals trading in Jeddah through its London Metal Exchange subsidiary

This week saw the listing of two Hong Kong equity-tracking ETFs on the Saudi Exchange, marking continued progress in financial connectivity between Hong Kong and Saudi Arabia.