Saudi Arabia to facilitate more capital flows to Hong Kong: HKEX Deputy CEO

Wilfred Yiu, Deputy Chief Executive of the Hong Kong Stock Exchange (HKEX), said that Saudi Arabia intends to facilitate more capital flows to Hong Kong.

In an interview with Argaam on the sidelines of the Capital Markets Forum, the executive said that Saudi Vision 2030 offers long-term transformative opportunities for global investors in Hong Kong. It provides deep liquidity and a large talent pool, Yiu said, stressing that Hong Kong is a perfect launching pad for marketing and promoting the Saudi market as there are many global investors or brokers with regional headquarters in Hong Kong.

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He added that the Vision has an advanced plan for a circular carbon economy, indicating that there will be several opportunities, with the possibility of access by many strong companies to the market, hoping that companies will enhance access of investors through Hong Kong.

Hong Kong is an international financial hub, and is the only place in the world that can facilitate flows as well as global investors. It is also a diverse economic environment for products through stocks and exchange-traded funds for structuring products in addition to derivatives, according to the executive.

Furthermore, Hong Kong connects the East and the West, and is a key window to the Chinese mainland and also to the rest of the world, which will bring more opportunities to the market, he further stated.

Yiu also pointed out that there are many aspects of cooperation, such as environmental, social and governance standards in addition to the circular carbon economy index and others. These are usually very advanced in developed markets such as Hong Kong, he said, noting that market and policy developments in Hong Kong provide the financial market with ability to help facilitate opportunities.