Hong Kong Exchanges and Clearing Limited (HKEX) announced plans to open a new office in Riyadh, Saudi Arabia in 2025.

This move is intended to strengthen HKEX’s presence in the Middle East and foster connections between China and the Gulf region.

The new Riyadh office aims to support HKEX’s engagement with investors and businesses in this economic center, facilitating access to Hong Kong’s financial products.

The move builds on HKEX’s recent activities in the region, which include partnerships and collaboration with the Saudi Tadawul Group and the launch of the first Saudi-focused Exchange-Traded Fund (ETF) in Hong Kong last year.

HKEX’s efforts to deepen its presence have also included adding the Saudi Exchange, Abu Dhabi Securities Exchange, and Dubai Financial Market to its list of Recognised Stock Exchanges, enabling Middle Eastern companies to consider secondary listings in Hong Kong.

The Riyadh office will become part of HKEX’s network that already includes locations in Beijing, London, New York, Shanghai, and Singapore.

Bonnie Y Chan, CEO of HKEX, said,

“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.”

This article first appeared on fintechnews.hk