Last month’s high-level business delegation to Qatar and Kuwait led by Hong Kong Chief Executive John Lee included enterprises from Hong Kong as well as Mainland China to bolster trade ties between China and the Middle East.
This was the first time mainland companies joined a mission led by the Hong Kong SAR Chief Executive, showcasing our city’s unique role as an international gateway and connector that can help businesses from across China capture opportunities overseas.
After receiving support from the HKTDC’s office in Dubai, Shanghai-based Dongchao Information Technology signed an MoU during the mission with the Kuwait Direct Investment Promotion Authority to set up a smart factory in the Gulf state.
Dongchao also plans to open an office in Hong Kong that will also serve as an R&D centre to support its expansion in the Middle East and other markets.
The HKTDC arranged for Dongchao Technology Chairman Wang Chaoyou and his staff to visit Hong Kong in early June, following the mission to Qatar and Kuwait.
They visited various institutions – including the City University of Hong Kong, Hong Kong Science Park, Nano and Advanced Materials Institute, HSBC and Standard Chartered Bank – to gain a deeper understanding of Hong Kong’s innovation and technology (I&T) ecosystem as well as its advantages in financial services.
Dongchao executives also met with the Hong Kong SAR Government’s Belt and Road Office and Invest Hong Kong as part of preparations for their planned R&D centre in Hong Kong.
The HKTDC invited Dongchao to two major annual Hong Kong-based events – the Belt and Road Summit in September and the Asian Financial Forum next January – to help the company explore more cooperation opportunities.
Another mainland firm PCI Technology – which aims to list in Hong Kong by issuing H-shares in the city – also signed MoUs during the recent Middle East mission, inking separate agreements with Deloitte and HSBC.
The HTKDC has helped facilitate connections between PCI and the Hong Kong Stock Exchange to help the tech firm realise its plan.
The company also plans to set up an I&T centre in Hong Kong, as part of its growth strategy.
Overall, 59 MoUs and announcements were facilitated during May’s Middle East business mission.
After the mission, the HKTDC engaged other mainland members of the delegation – including Glodon Technology, Luyi Industrial Park and Shuangdeng Group – to better understand their business development plans and any support they might need, while extending invitations to HKTDC-organised events that can help them find new partners and expand into international markets.
The HKTDC will continue to assist enterprises in leveraging Hong Kong's key role as an international platform for trade and finance.
