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Hong Kong, Saudi Arabia set to launch US$1 billion fund, Paul Chan says (www.scmp.com)

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The Hong Kong Monetary Authority (HKMA) and the sovereign wealth fund of Saudi Arabia will launch a US$1 billion fund to help companies from Hong Kong and other cities in the Greater Bay Area expand into the Middle Eastern country, Financial Secretary Paul Chan Mo-po said on Tuesday. The move was expected to contribute to the development of non-oil economic sectors in Saudi Arabia, he said. “Next month, a major Saudi development company will be hosting a roadshow in Hong Kong to seek strategic...

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