FSDC deepens Saudi links with MoU

Hong Kong's Financial Services Development Council has signed a memorandum of understanding with Saudi Arabia's Financial Sector Development Program to strengthen collaboration between the financial markets in the two regions.

The MoU aims to enhance cross-border investments, share practices in fintech and talent development, and boost connectivity between their financial markets.

This comes after Invest Hong Kong and the Ministry of Investment of Saudi Arabia signed an MoU last month to foster cooperation on investment.

In other news, Saudi Basic Industries Corporation will build a petrochemical complex in China's Fujian province.

The project, with a total investment of 44.8 billion yuan (HK$49.82 billion), is by far the largest single foreign investment in Fujian.