The Hong Kong Trade Development Council (HKTDC) organises missions year-round to not only strengthen Hong Kong’s ties with its major international partners, but also enable businesses to collaborate for success and grow.
Post-pandemic, we embarked on a high-level mission to the Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE) in February 2023, led by Hong Kong SAR Chief Executive John Lee.
Another mission to the Middle East followed to Kuwait and Qatar this May.
Both missions yielded fruitful business results and elevated our city’s relationship with the Middle East to new levels.
Aside from MoUs and cooperation agreements signed during the visits, business growth was a tangible result of these missions.
Transforming mission participation into business growth
The expansion of China International Capital Corporation (CICC) into the Middle East is another mission success story.
CICC, including CEO Huang Zhaohui, was part of the delegation for both missions, during which they met high-level stakeholders from across the region.
These include government and local chambers, including Abu Dhabi Chamber of Commerce and Industry, Dubai Chambers and Saudi Chinese Business Council, and Qatar Development Bank and Kuwait Investment Authority.
The HKTDC also arranged meetings with KSA’s Public Investment Fund and Ministry of Investment. Furthermore, CICC signed an MoU with the latter to boost investment cooperation between China and the Kingdom.
The HKTDC Dubai office offered sustained comprehensive support to CICC well beyond the missions, including providing key business advice.
Following the 2023 mission, the team curated a series of one-on-one, high-impact meetings tailored to their strategic interests in the Middle East.
Among others, in the UAE, the HKTDC Dubai office connected the investment bank with Dubai FDI, part of the Department of Economic Development in Dubai, Invest in Sharjah and Abu Dhabi Investment Office.
We linked up CICC with the leadership of the Dubai Financial Services Authority and Dubai International Financial Centre (DIFC) to facilitate further connection building and sharing of insights of the latest economic developments in the region.
In May this year, CICC launched operations in Dubai at the DIFC.
This proactive engagement positions the HKTDC as a key enabler of CICC’s long-term market exploration and expansion efforts.
Year-round business support
For the HKTDC, supporting businesses’ growth and transformation journey is a year-round sustained effort with the support of its global network of offices.
We provide wide-ranging support via our fairs and conferences, support programmes and overseas promotions, which include missions as well as Hong Kong pavilions at major fairs in the mainland and overseas.
CICC participated in HKTDC’s events in Hong Kong, including as a strategic partner and speaker at last year’s Belt and Road Summit, which was attended by over 6,000 participants from over 70 countries and regions.
At the Summit, they signed an MoU with the Kazakhstan Investment Development Fund Management Company Ltd to promote cooperation on investment opportunities, while committing to a long-term strategic partnership.
CICC is also a long-standing partner at the Asian Financial Forum (AFF), marking their 13th year at the event in January this year.
They leverage this HKTDC annual conference to share their expertise and insights, with a focus on technological innovation and sustainable development.
AFF, which kicks off the HKTDC’s calendar of events every year, brings together government and business leaders, investors and entrepreneurs from around the world to network, exchange perspectives and collaborate for success.
Two-way investment banking gateway
In recent years, the CICC has made a push to strengthen ties with Belt and Road countries, with the Middle East firmly in their sights.
With the opening of its Dubai office, they aim to become the premier investment banking gateway between China and the region, leveraging their expertise to facilitate capital flows, structuring cross-border investments and advising on opportunities.
Chen Liang, CICC Chairman, said: “The opening of the CICC DIFC branch marks a significant milestone in our international expansion strategy. From the UAE, a key gateway for the Gulf region, we will build tailored solutions to serve regional clients’ evolving needs, while supporting Chinese enterprises seeking strategic opportunities abroad and contributing financial momentum to the high-quality development of the Belt and Road Initiative.”
An investment bank with Chinese roots and an international reach, it has established a strong presence in major financial centres, including Hong Kong, Tokyo, Singapore, Frankfurt, London and New York.