HONG KONG -- Financial Secretary of the Hong Kong Special Administrative Region (HKSAR) government Paul Chan said on Sunday that fintech cooperation between Hong Kong and the Middle East region will enter a new milestone.

Chan said in his blog that he will lead a business delegation consisting of representatives from the financial and innovation sectors to Riyadh, Saudi Arabia, on Monday for a three-day visit.

During the visit, the delegation will attend the 8th Future Investment Initiative and promote in-depth exchanges between Hong Kong's financial and innovation sectors and relevant institutions in the Middle East through a series of activities to explore cooperation and two-way investment.

Chan said that one of the highlights of the trip is to witness the listing of the first two exchange-traded funds (ETFs) tracking Hong Kong's stock index on the Saudi exchange, and the second is to accelerate and deepen cooperation in innovation and technology between the two sides.

Chan and some delegation members will participate in speeches and discussions at the Future Investment Initiative to introduce Hong Kong's role and functions as a "super connector" and "super value-adder," sharing how Hong Kong can contribute to the development of the Middle East region and the Global South, and actively contribute to the Belt and Road Initiative.