https://www.scmp.com/rss/517322/feed FII summit is an annual conference organised by the Future Investment Initiative Institute. It is often referred to as “Davos in the Desert “ and attended by investors, innovators, academics and policymakers. FII Priority are smaller meetings held in various cities around the globe. Hong Kong is the first to host it in Asia. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Enoch Yiu Enoch Yiu Hong Kong executive Kiki Zhang admits she felt a little anxious about her first visit to Saudi Arabia when she joined a delegation led by Financial Secretary Paul Chan Mo-po in October. However, the chief financial officer of robotics company FJDynamics quickly found that any concerns about the Middle Eastern country’s reputation for restrictive laws and cultural differences were unfounded. “I have fallen in love with the city,” she said during the 110-member delegation’s trip to the 8th Future... https://www.scmp.com/business/article/3285821/hong-kong-start-ups-find-saudi-arabia-offers-warm-welcome-big-opportunities?utm_source=rss_feed https://www.scmp.com/business/article/3285821/hong-kong-start-ups-find-saudi-arabia-offers-warm-welcome-big-opportunities?utm_source=rss_feed Sun, 10 Nov 2024 03:00:10 +0000 Hong Kong secured a foothold in Middle Eastern markets this week after a business delegation closed around a dozen deals worth billions of dollars in start-up funding and collaborations at Riyadh’s three-day “Davos in the Desert” gathering. The leader of the delegation, Hong Kong Financial Secretary Paul Chan, said, “It is not just talk,” as he recapped outcomes from the visit, which included participation by HSBC’s Hong Kong CEO Luanne Lim, HKEX CEO Bonnie Chan and 25 start-ups led by Albert... https://www.scmp.com/plus/article/3284762/davos-desert-npc-standing-committee-convenes-and-more?utm_source=rss_feed https://www.scmp.com/plus/article/3284762/davos-desert-npc-standing-committee-convenes-and-more?utm_source=rss_feed Fri, 01 Nov 2024 09:00:32 +0000 Enoch Yiu Enoch Yiu Hong Kong secured billions of dollars in financial commitment from Saudi Arabia after one of the city’s biggest business delegations to the kingdom sealed almost a dozen deals for start-ups and collaboration accords over three days. The highlight of the week was the US$1 billion accord announced on the final day of the 2024 FII summit by the Saudi sovereign wealth fund and the Hong Kong Monetary Authority to support companies based in the Greater Bay Area – including Hong Kong – that plan to... https://www.scmp.com/business/banking-finance/article/3284707/fii-2024-hong-kong-delegation-gets-billions-dollars-saudi-funds-dozen-deals?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3284707/fii-2024-hong-kong-delegation-gets-billions-dollars-saudi-funds-dozen-deals?utm_source=rss_feed Thu, 31 Oct 2024 23:00:21 +0000 Enoch Yiu,Salina Li Enoch Yiu,Salina Li Saudi Arabia’s sovereign-wealth fund the Public Investment Fund and the Hong Kong Monetary Authority (HKMA) signed an agreement in Riyadh on Thursday to work towards jointly anchoring a new investment fund with a target size of US$1 billion, the HKMA said in a statement. “The fund would explore investment in manufacturing, renewables, fintech and healthcare, supporting the localisation in Saudi Arabia of companies connected to Hong Kong and the Greater Bay Area,” the statement said. “It would... https://www.scmp.com/business/banking-finance/article/3284681/hong-kong-saudi-market-regulators-build-strategic-ties-spur-listings-training?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3284681/hong-kong-saudi-market-regulators-build-strategic-ties-spur-listings-training?utm_source=rss_feed Thu, 31 Oct 2024 12:07:59 +0000 Enoch Yiu Enoch Yiu Riyadh Air, backed by Saudi Arabia’s sovereign wealth fund, is in talks to work with Hong Kong’s Cathay Pacific Airways to expand each other’s route network, after its multibillion-dollar order of 60 Airbus jets this week, said a senior executive. The cooperation may “very possibly” include a code-sharing accord for the two carriers to fly passengers on each other’s aircraft to a wider network of destinations, Riyadh Air’s chief financial officer Adam Boukadida said in an interview with the Post... https://www.scmp.com/business/companies/article/3284538/riyadh-air-code-share-talks-cathay-pacific-grow-middle-east-asia-route-network?utm_source=rss_feed https://www.scmp.com/business/companies/article/3284538/riyadh-air-code-share-talks-cathay-pacific-grow-middle-east-asia-route-network?utm_source=rss_feed Wed, 30 Oct 2024 23:58:53 +0000 Wency Chen Wency Chen TikTok, the Chinese-owned short-video app fighting a ban in the US, is determined to earn trust in every market where it operates, CEO Chew Shou Zi said at a summit in Saudi Arabia’s capital city. As the social media industry faces more questions, “earning trust locally … is going to be a big challenge for us, all of us”, Chew said in a conversation with Richard Attias, CEO of the Future Investment Initiative (FII) Institute, on Tuesday. “Ultimately, it’s going to be based on the things that you... https://www.scmp.com/tech/big-tech/article/3284369/tiktok-ceo-vows-earn-global-trust-app-challenges-us-ban?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3284369/tiktok-ceo-vows-earn-global-trust-app-challenges-us-ban?utm_source=rss_feed Tue, 29 Oct 2024 14:23:57 +0000 Enoch Yiu Enoch Yiu Hong Kong’s main technology park operator and Saudi Arabia’s start-up incubator have agreed to collaborate, giving fintech companies in the city access to financing from a Middle East fund to pursue their growth ambitions. Hong Kong Science and Technology Parks (HKSTP) and Beta Lab signed an agreement in Riyadh on Tuesday as the annual Future Investment Initiative (FII) summit kicked off in the Saudi capital. Financial Secretary Paul Chan Mo-po and Saudi Arabia’s Minister of Investment Khalid... https://www.scmp.com/business/article/3284363/hong-kong-start-ups-eye-funding-under-new-accord-beta-lab-saudi-arabia?utm_source=rss_feed https://www.scmp.com/business/article/3284363/hong-kong-start-ups-eye-funding-under-new-accord-beta-lab-saudi-arabia?utm_source=rss_feed Tue, 29 Oct 2024 13:39:40 +0000 Enoch Yiu Enoch Yiu Financial firms in the Middle East and elsewhere need to adopt more inclusive policies and flexible working arrangements to support women who want to take on senior roles, according to speakers at a key summit in Saudi Arabia’s capital city. Speakers including former HSBC CEO Noel Quinn on Monday underscored the importance of promoting gender diversity and applauded Saudi Arabia’s efforts to diversify its economy and create new career opportunities for women. Today, the kingdom’s workforce is 36... https://www.scmp.com/business/article/3284257/fii-2024-inclusive-policies-flexible-work-rules-spur-gender-diversity-saudi-summit-told?utm_source=rss_feed https://www.scmp.com/business/article/3284257/fii-2024-inclusive-policies-flexible-work-rules-spur-gender-diversity-saudi-summit-told?utm_source=rss_feed Tue, 29 Oct 2024 03:31:15 +0000 Enoch Yiu Enoch Yiu The Hong Kong Science and Technology Parks Corporation (HKSTP) will embark on its largest-ever overseas delegation by bringing 25 start-ups to a summit in Saudi Arabia this week, according to its CEO. The start-ups are among the more than 1,200 companies that have been incubated by the HKSTP to promote the city’s technology and innovation. The start-ups that are heading to Saudi Arabia are more established and are engaged in a number of sectors, including biotechnology, new energy and other... https://www.scmp.com/business/article/3283838/hong-kongs-start-incubator-leads-largest-delegation-saudi-arabia-summit-week?utm_source=rss_feed https://www.scmp.com/business/article/3283838/hong-kongs-start-incubator-leads-largest-delegation-saudi-arabia-summit-week?utm_source=rss_feed Mon, 28 Oct 2024 00:30:10 +0000 Enoch Yiu Enoch Yiu Middle Eastern investors have rushed to buy the first exchange-traded fund (ETF) tracking Hong Kong stocks to capture the recent market rally and long-term growth “miracle” of China, according to the CEO of the issuer. Albilad CSOP MSCI Hong Kong China Equity ETF (Albilad ETF), the first index fund tracking Hong Kong stocks in Saudi Arabia, had already raised HK$10 billion (US$1.3 billion) as of October 23, according to Hong Kong-based CSOP Asset Management which joined hands with Albilad... https://www.scmp.com/business/markets/article/3283984/first-hong-kong-etf-saudi-arabia-raises-us13-bn-investors-buy-china-miracle?utm_source=rss_feed https://www.scmp.com/business/markets/article/3283984/first-hong-kong-etf-saudi-arabia-raises-us13-bn-investors-buy-china-miracle?utm_source=rss_feed Sun, 27 Oct 2024 09:00:09 +0000 Global Impact is a weekly curated newsletter featuring a news topic originating in China with a significant macro impact for our newsreaders around the world. Sign up now! When Laura Cha Shih May-lung struck the ceremonial gong at the Hong Kong stock exchange (HKEX) with the Future Investment Initiative (FII) Institute’s governor Yasir Al-Rumayyan, they kicked off the biggest gathering of Saudi government ministers and business executives ever assembled in the city. More than 1,000 participants... https://www.scmp.com/economy/global-economy/article/3244590/global-impact-economic-centre-gravity-moving-towards-asia-saudi-ministers-executives-descend-hong?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3244590/global-impact-economic-centre-gravity-moving-towards-asia-saudi-ministers-executives-descend-hong?utm_source=rss_feed Mon, 11 Dec 2023 06:00:15 +0000 Middle Eastern countries are eager to invest in Hong Kong mega projects such as the Northern Metropolis, while more time is needed to further explain opportunities available in mainland Chinese and other East Asian markets, the city’s finance chief has said. Financial Secretary Paul Chan Mo-po told the Post that efforts to woo Gulf countries were beginning to bear fruit, pointing to a decision by Saudi Arabia’s sovereign wealth fund to start hosting one of its leading investment summits in Hong... https://www.scmp.com/news/hong-kong/article/3244453/middle-eastern-states-eager-invest-hong-kong-mega-projects-such-northern-metropolis-finance-chief?utm_source=rss_feed https://www.scmp.com/news/hong-kong/article/3244453/middle-eastern-states-eager-invest-hong-kong-mega-projects-such-northern-metropolis-finance-chief?utm_source=rss_feed Fri, 08 Dec 2023 13:31:14 +0000 “Hyperlocality” and open dialogue between regulators, businesses and investors, can help retain the vibrancy of Asia’s start-up ecosystem, industry leaders said at the FII Priority conference in Hong Kong. “We apply the same business model and the same technical structure everywhere but we globalise our people and localise our approach,” said Paul Loo the chief operating officer of Hong Kong logistics company Lalamove on a panel about venture capital and Asian start-ups. According to Crunchbase... https://www.scmp.com/business/banking-finance/article/3244402/fii-conference-open-dialogue-hyperlocal-approach-are-keys-asias-vibrant-start-ecosystem-industry?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3244402/fii-conference-open-dialogue-hyperlocal-approach-are-keys-asias-vibrant-start-ecosystem-industry?utm_source=rss_feed Fri, 08 Dec 2023 10:30:21 +0000 A unit of Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has injected fresh capital into eWTP Arabia Capital (eWTPA), a Riyadh-based venture firm focused on easing Chinese business expansion in the Middle East. The unit, Jada Fund of Funds Company, has taken part in the second fundraising for eWTPA, the latter announced on Friday at the FII Priority conference in Hong Kong, presented by the Future Investment Initiative (FII) Institute. eWTPA, an investment arm of eWTP... https://www.scmp.com/business/banking-finance/article/3244391/chinese-business-expansion-middle-east-get-boost-unit-saudi-arabias-pif-invests-venture-firm-ewtpa?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3244391/chinese-business-expansion-middle-east-get-boost-unit-saudi-arabias-pif-invests-venture-firm-ewtpa?utm_source=rss_feed Fri, 08 Dec 2023 09:30:14 +0000 Although China looks to stay competitive in the supply chain of rare earth metals, it’s time to start worrying about a couple of major minerals, warns China-based mineral company Ferro Resources. “There is enough rare earth in the world. There is also enough cobalt in the world. My concerns are actually more on copper and nickel,” said Dario Pong, founder and managing of Ferro Resources, a Hong Kong company that makes and exports automotive ferrite magnets and iron oxide in the mainland Chinese... https://www.scmp.com/economy/china-economy/article/3244261/why-chinas-foresight-ev-minerals-gives-it-big-edge-over-us-every-country-needs-copper?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3244261/why-chinas-foresight-ev-minerals-gives-it-big-edge-over-us-every-country-needs-copper?utm_source=rss_feed Thu, 07 Dec 2023 15:00:12 +0000 Innovative technologies such as synthetic biology and alternative materials are poised to take centre stage in the next 10 years because they have the potential to positively impact the lives and livelihoods of many people, according to Solina Chau Hoi-shuen, co-founder of Horizons Ventures, an investment firm backed by Hong Kong tycoon Li Ka-shing. Speaking at the Future Investment Initiative (FII) Institute’s first Asia conference in Hong Kong on Thursday, Chau acknowledged the challenges... https://www.scmp.com/business/banking-finance/article/3244259/fii-conference-investment-firm-backed-hong-kong-tycoon-li-ka-shing-seeks-transformative-technologies?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3244259/fii-conference-investment-firm-backed-hong-kong-tycoon-li-ka-shing-seeks-transformative-technologies?utm_source=rss_feed Thu, 07 Dec 2023 12:00:29 +0000 Technology that holds the key to solving the climate crisis needs more government support and funding from diverse players in the private sector to ensure its successful commercialisation, according to speakers at the Future Investment Initiative (FII) Institute’s first Asia conference. “Sustainability is the defining challenge in our century, but also the biggest trillion-dollar opportunity,” Poman Lo, founding managing partner of sustainable technology fund AlphaTrio Capital, said at the FII... https://www.scmp.com/business/article/3244241/fii-conference-climate-tech-will-not-go-very-far-without-government-support-and-diverse-private?utm_source=rss_feed https://www.scmp.com/business/article/3244241/fii-conference-climate-tech-will-not-go-very-far-without-government-support-and-diverse-private?utm_source=rss_feed Thu, 07 Dec 2023 10:31:04 +0000 The changing geopolitical landscape and Asia’s ascent on the global stage are driving regional economies to collaborate more closely, leaders said at the first FII conference to be held in Hong Kong. “The shift in economic and global geopolitical power [is] coming a little more towards the East,” said Nicolas Aguzin, CEO of Hong Kong Exchanges and Clearing (HKEX), during a panel discussion on how Asia will redefine global financial leadership. “Asia will represent a bigger proportion of the... https://www.scmp.com/business/china-business/article/3244222/fii-conference-worlds-economic-centre-gravity-moving-towards-asia-says-hong-kong-tycoon-victor-fung?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3244222/fii-conference-worlds-economic-centre-gravity-moving-towards-asia-says-hong-kong-tycoon-victor-fung?utm_source=rss_feed Thu, 07 Dec 2023 09:30:09 +0000 Artificial intelligence (AI) can be a significant tool for uplifting humanity and to serve the common good, provided the right regulations and a human-centric approach to its development are in place, private capital leaders said at the FII Priority conference in Hong Kong. We are seeing a confluence of technologies coming together all at once, driven by artificial intelligence, Eric Pulier, founder and CEO of Vatom Corporation, said on Thursday during a panel discussion on technology and its... https://www.scmp.com/business/banking-finance/article/3244219/fii-conference-ai-should-be-allowed-flourish-human-centric-approach-will-ensure-it-becomes-force?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3244219/fii-conference-ai-should-be-allowed-flourish-human-centric-approach-will-ensure-it-becomes-force?utm_source=rss_feed Thu, 07 Dec 2023 08:32:01 +0000 Hong Kong is ideally placed to serve as a bridge between China and the Middle East, with the city’s capital market and government’s focus on tech and innovation acting as catalysts to help the world transition towards a sustainable future, according to speakers at the FII’s first Asia conference. Participants also discussed the ethics and regulations surrounding artificial intelligence (AI), advanced technology and the future of sustainability, some of the biggest concerns facing humanity. “We... https://www.scmp.com/business/china-business/article/3244181/fii-conference-hong-kongs-capital-market-hub-status-highlighted-city-seeks-bridge-role-boost-middle?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3244181/fii-conference-hong-kongs-capital-market-hub-status-highlighted-city-seeks-bridge-role-boost-middle?utm_source=rss_feed Thu, 07 Dec 2023 05:51:29 +0000 Hong Kong’s “one country, two systems” governing principle has enabled it to play a bigger role than its size would suggest on the global stage in finance, innovation and building a sustainable future, the city’s leader has said, stressing the number of fintech companies setting up locally has risen by 25 per cent in just a year. During his keynote speech on Thursday at the FII Priority Hong Kong conference, Chief Executive John Lee Ka-chiu also said ties between the city and Saudi Arabia were... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3244148/hong-kongs-one-country-two-systems-principle-enables-city-play-key-role-shaping-global-trends-john?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3244148/hong-kongs-one-country-two-systems-principle-enables-city-play-key-role-shaping-global-trends-john?utm_source=rss_feed Thu, 07 Dec 2023 03:14:15 +0000 One late-October morning in one of the most expensive hotels in Saudi Arabia’s capital Riyadh, a group of Chinese start-up entrepreneurs and mainland financiers was reminded of the importance of preparedness and proactive backup plans by Ray Dalio, the founder of the world’s biggest hedge fund firm, Bridgewater Associates. Dalio, a self-proclaimed Sinophile, used a Chinese idiom, “Smart Rabbit has three burrows”, while making his point to delegates at the 7th Future Investment Initiative (FII),... https://www.scmp.com/business/article/3243549/fii-priority-ray-dalios-smart-rabbit-3-burrows-hedge-shows-chinese-executives-way-navigate-middle?utm_source=rss_feed https://www.scmp.com/business/article/3243549/fii-priority-ray-dalios-smart-rabbit-3-burrows-hedge-shows-chinese-executives-way-navigate-middle?utm_source=rss_feed Sat, 02 Dec 2023 02:00:18 +0000 The FII Institute, a think tank backed by Saudi Arabia’s sovereign wealth fund, has invited the South China Morning Post to be the exclusive Asia-Pacific print media contributor to its inaugural conference in Hong Kong, scheduled for December 7 and 8. The FII Priority Hong Kong conference, held in partnership with the city’s government and Hong Kong Exchanges and Clearing Limited (HKEX), will be held at the local stock exchange’s Connect Hall in Central, FII said during a press conference in... https://www.scmp.com/business/banking-finance/article/3242905/fii-institute-picks-post-its-exclusive-asia-pacific-print-media-contributor-its-inaugural-hong-kong?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3242905/fii-institute-picks-post-its-exclusive-asia-pacific-print-media-contributor-its-inaugural-hong-kong?utm_source=rss_feed Mon, 27 Nov 2023 10:00:19 +0000 ASPACE Hong Kong Satellite Manufacturing Center, a subsidiary of Hong Kong Aerospace Technology Group (HKATG), has signed an agreement with Saudi Arabia’s ministry of investment to develop satellites and will invest an initial amount of US$200 million in the project. The deal signed on Wednesday means the Hong Kong firm is the first company to operate in the aerospace sector in the Middle Eastern country, Sun Fengquan, ASPACE’s co-chairman and CEO, told the Post on the sidelines of the Future... https://www.scmp.com/business/china-business/article/3239275/fii-hong-kong-firm-aspace-signs-deal-build-saudi-arabias-aerospace-sector-scratch-invest-us200?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3239275/fii-hong-kong-firm-aspace-signs-deal-build-saudi-arabias-aerospace-sector-scratch-invest-us200?utm_source=rss_feed Thu, 26 Oct 2023 10:00:20 +0000