Chan Mo-po: The Hong Kong Monetary Authority and Saudi PIF set up a US$1 billion fund to invest in financial technology and other fields

 Hong Kong Financial Secretary Paul Chan Mo-po published a blog post stating that his delegation had achieved fruitful results during their visit to Riyadh, Saudi Arabia last week. The Hong Kong Monetary Authority and the Public Investment Fund of Saudi Arabia (PIF) signed a memorandum of understanding to jointly establish a $1 billion investment fund, which will invest in Hong Kong and Greater Bay Area enterprises in the fields of manufacturing, renewable energy, fintech, and healthcare in Saudi Arabia. In addition, a fintech company from Hong Kong Cyberport signed a commercial agreement with local partners.