Doha: Chairperson of the Hong Kong Association of Banks and CEO of Hong Kong and Greater China and North Asia at Standard Chartered, Mary Huen, affirmed that there are promising economic opportunities for cooperation between the State of Qatar and the Hong Kong Special Administrative Region of the People’s Republic of China in key sectors, most notably financial technology (FinTech), sustainable finance, and Renminbi (RMB) transactions.
According to Qatar News Agency, Huen spoke on the sidelines of Monday’s business meeting between Qatari entrepreneurs and investors and their counterparts from China’s Hong Kong, highlighting Hong Kong’s advanced financial infrastructure as a strategic link capable of connecting Qatar to both Chinese and global markets. She noted that a delegation led by HE Chief Executive of the Hong Kong Special Administrative Region, John Lee, is visiting to strengthen economic partnerships and open new channels for joint investment.
The Chairperson emphasized that both Hong Kong and Qatar have a growing interest in cooperating in FinTech, particularly after Hong Kong’s recent announcement of its virtual asset and stablecoin infrastructure. She highlighted that these initiatives pave the way for developing joint financial platforms between both sides.
Huen also underlined Hong Kong’s global role as a hub for RMB trading, noting its large RMB reserves facilitate direct Qatari investments in the Chinese market through the direct linkage system connecting Hong Kong to mainland China. She identified sustainable finance as a third pillar of bilateral cooperation, with Hong Kong being a leading center for green bonds, accounting for 45 percent of Asia’s green bonds issued by its institutions in 2024.
Expressing Hong Kong’s readiness to support Qatar in issuing and distributing green financing instruments, Huen stressed their alignment with both parties’ sustainable development goals. She also highlighted that the Hong Kong trade delegation included representatives from the infrastructure and innovation sectors, reflecting the visit’s comprehensive nature and its aim to establish multidimensional partnerships of mutual benefit.
Huen praised the Qatari government’s facilitation measures, especially regarding visa procedures, considering it a positive step toward enhancing trade and tourism exchange. She concluded by stating that signing numerous Memorandums of Understanding (MoUs) marks the beginning of a series of initiatives aimed at strengthening future economic and investment engagement between the two sides.