According to PANews, Hong Kong's Financial Secretary Paul Chan announced significant achievements following a delegation visit to Riyadh, Saudi Arabia. The Hong Kong Monetary Authority and the Saudi Arabian Public Investment Fund (PIF) signed a memorandum of understanding to establish a $1 billion investment fund. This fund will focus on investing in businesses from Hong Kong and the Guangdong-Hong Kong-Macao Greater Bay Area, particularly in sectors such as manufacturing, renewable energy, fintech, and healthcare, operating in Saudi Arabia. Additionally, a fintech company from Hong Kong's Cyberport signed a commercial agreement with a local partner.