HSBC Hong Kong Pens MoUs to Support Chinese Firms Expanding into ME Markets

The Hongkong and Shanghai Banking Corporation Limited, through its Hong Kong Office (“HSBC Hong Kong”) has announced the signing of Memorandums of Understanding (“MoUs”) with leading Chinese companies - PCI Technology Group Co., Ltd (“PCI”)and Meetsocial Co., Ltd (“Meetsocial Group”). These agreements aim to support both companies in expanding their presence into promising Middle Eastern markets.

The MOUs were signed by Justin CHAN, Advisor to Asia and the Middle East Co-Chief Executives of HSBC, along with senior executives from the two companies, including Jiao CHEN, Chief Executive Officer of PCI Technology Group Co, Ltd, and Chengang SHEN, Chief Executive Officer of Meetsocial Co., Ltd during a high-level delegation visit to Qatar and Kuwait. The visit led by H E John Lee, Chief Executive of the Hong Kong Special Administrative Region, brought together over 50 businesses from Hong Kong and mainland, including HSBC Hong Kong, PCI and Meetsocial Group.

HSBC Hong Kong will leverage its extensive financial and market expertise, as well as global networkto support the Chinese companies in navigating Middle Eastern markets. The collaboration seeks to tap into emerging opportunities in the GCC region, driven by ongoing economic diversification, ambitious smart city initiatives, and growing inter-regional trade and investment between Asia and the Middle East.

Abdul Hakeem Mostafawi (pictured), CEO of HSBC in Qatar said: “The relationship between Hong Kong and Qatar has been built on mutual goals of economic diversification and financial cooperation. As Hong Kong strengthens its role as a gateway to Asia, it offers Qatari businesses and investors unparalleled access to regional markets. In turn, Qatar’s dynamic growth and investment landscape present significant opportunities for collaboration in finance, infrastructure, and innovation. With HSBC’s 160-year legacy in Hong Kong, and over 70-year presence in Qatar, combined with our international network, we are well placed to identify opportunities for our clients to grow their business across this vibrant corridor.”