Hong Kong Exchanges and Clearing Limited (HKEX) Announces Expansion Into Saudi Arabia

Hong Kong Exchanges and Clearing Limited (HKEX) recently announced its upcoming expansion into Saudi Arabia. According to the company, its goal is to open a new office in Riyadh in 2025. 

HKEX Expands Into The Middle East

The expansion is meant to improve HKEX’s ties with the Middle East, and at the same time, it will support connectivity between the Gulf region and China. The new office in Riyadh will facilitate engagement with local businesses and investors, offering access to a variety of financial products that are currently only available in Hong Kong.

The move came soon after HKEX launched its Middle Eastern initiatives, such as its partnership with the Saudi Tadawul Group. It also launched the first ETF focused on Saudi Arabia in Hong Kong back in 2023.

Now, according to HKEX’s CEO, Bonnie Y Chan, the launch of the new office will ensure that investment ties between Asia and the Middle East grow stronger. Hong Kong and HKEX are already playing major roles in connecting opportunities and capital between the two regions. According to the firm’s CEO, those roles are now more important than ever before.

The move also marks the next step in HKEX’s expansion efforts, after the company previously expanded to the US with an office in New York City. Its intention was to support the expanding international client base and further enhance the group’s global presence. 

Thanks to the New York office, HKEX was able to link Hong Kong and US trading hubs and facilitate collaboration between US users and Mainland China’s market. 

HKEX Continues Its Global Expansion

Another move worth noting is that HKEX managed to expand the list of Recognized Stock Exchanges to include the Abu Dhabi Securities Exchange, the Saudi Exchange, and Dubai Financial Market. Thanks to this move, Middle Eastern companies will now have the opportunity to explore the idea of getting secondary listings in Hong Kong.

Finally, with the new office in Riyadh, HKEX now has a global network spanning some of the biggest trading hubs in the world. Its offices operate from Beijing, New York, Singapore, London, and Shanghai.

Y Chan commented on this as well, noting that the new Riyadh office will join the others in Beijing, London, New York, Shanghai, and Singapore, which will allow the company to foster greater global coverage. On top of that, HKEX will be able to facilitate access for Middle East clients to some of Asia’s most international, diverse, and liquid capital markets that Hong Kong has to offer.