‘HK ideal platform to reach out to new markets'
Joe Chen (left) and Johnny Ng spoke of Hong Kong's role as a super connector for both mainland and overseas firms. Photo: RTHK
A leading Chinese digital bank says Hong Kong provides the ideal platform for mainland enterprises to reach out to Belt and Road markets, citing the city's strengths in technology and global network.
That's according to Joe Chen, the executive vice president of WeBank who's one of two dozen mainland businessmen currently on the chief executive's trade delegation to the Middle East.
The entrepreneur - on behalf of WeBank - struck a number of memoranda of understanding (MoU) in Doha on Monday. They included the only tripartite agreement among the 35 signed, putting pen to paper a partnership framework with Goldford Group in Hong Kong, and Klickl Technology in Qatar.
The Shenzhen-based digital bank which specialises in fintech has set up a subsidiary in the SAR last year.
'So this newly established entity in Hong Kong allows us to use Hong Kong as the platform to reach out to [Belt and Road] initiative countries to better promote our technology platform,' he told the press after the MoU ceremony.
'So Hong Kong will be serving as our I&T centre and also sales centre, and also allows us to also be involved in the Web 3.0 ecosystem that Hong Kong is building.
'All these things will be a great platform for us to launch (our) business internationally.'
Goldford, meanwhile, is an investment firm which funds emerging tech startups.
Chairman Johnny Ng, who's also a lawmaker, was asked if there was a concrete timetable for collaboration.
'Actually this is a mid to long-term cooperation,' he said at the same event.
'In the short term, we have considered to invest some budget to localise the products and then to tailor-made for some localised users.
'But in the long run, I think we need to have more training and support to do some incubation and accelerations to a local enterprise in order to make sure the whole business lifecycle and also the ecosystem can be built and suitable for themselves to use.'
Ng added it is difficult to give an estimate on the amount of money involved, saying multiple injections would be needed at different stages of cooperation.
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