Hong Kong Exchanges and Clearing Limited to Open Riyadh Office
This initiative is aimed at fostering greater financial connectivity between China and the Gulf region.
Hong Kong Exchanges and Clearing Limited (HKEX) has announced plans to open an office in Riyadh in 2025, as part of an effort to expand its presence in the Middle East. This initiative is aimed at fostering greater financial connectivity between China and the Gulf region, creating new opportunities for investors and issuers globally.
This move follows HKEX's recent achievements in the Middle East, including a Memorandum of Understanding with the Saudi Tadawul Group and the launch of Asia's first and the world’s largest Saudi-focused Exchange-Traded Fund (ETF). Additionally, HKEX has recognized the Saudi Exchange, Abu Dhabi Securities Exchange and Dubai Financial Market as part of its initiative to improve market accessibility and collaboration.
The establishment of the Riyadh office will facilitate further cooperation in cross-listing and ESG (Environmental, Social, and Governance) initiatives. Furthermore, it aims to enhance the listing of Middle Eastern companies on Hong Kong's stock market, thereby promoting economic growth and diversification.
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