Leaders in the key Gulf states of Saudi Arabia and the United Arab Emirates (UAE) enthusiastically welcomed the 30-strong Hong Kong delegation led by Chief Executive Mr John Lee and organised by the Hong Kong Trade Development Council (HKTDC), underlining the city’s role to connect them with the world.
Links between China and the Arabian Peninsula date back centuries – the Aladdin legend reputedly originated in China and marine trade with and through Arabia long predated links with Europe – so it is no surprise that Hong Kong reached out to Saudi Arabia and the United Arab Emirates after travel restrictions ended.
In a fast-changing world the Middle East has become an economic hot-spot with many fast-growing economies which are rapidly diversifying beyond their traditional reliance on energy exports.
Hong Kong fully opened its doors on 6 February, admitting travellers without PCR tests or COVID vaccine requirements, reviving the city’s role as a global financial hub and gateway to Mainland China.
Mainland China's Silk Road Fund (SRF) has announced plans to acquire a 49% stake in Acwa Power Renewable Energy Holding (APRE), the renewable-energy platform developed by Riyadh-headquartered utilities business Acwa Power.