Chan Maobo: HKMA and Saudi PIF set up 1 billion US dollar fund to invest in financial technology and other fields

The Financial Secretary of Hong Kong, Paul Chan, released an essay by the Secretary, in which he said that last week he led a delegation to Riyadh, Saudi Arabia, which was fruitful. The Hong Kong Monetary Authority and the Saudi Arabian Public Investment Fund (PIF) signed a memorandum of understanding to jointly set up a US $1 billion investment fund to invest in the Saudi business of Hong Kong and Guangdong-Hong Kong-Macao Greater Bay Area companies in the fields of manufacturing, renewable energy, fintech and healthcare. In addition, a fintech company from Hong Kong Cyberport signed a business agreement with a local partner.