Hang Seng Bank (Hang Seng) and its subsidiary, Hang Seng Bank (China) Limited (Hang Seng China), today signed a memorandum of collaboration at the 10th Belt and Road Summit. Under the memorandum, Hang Seng and Hang Seng China will collaborate with Qatar National Bank, National Bank of Kuwait and Jinko Power Technology (Jinko Power), a photovoltaic enterprise, to arrange a cross-boundary green syndicated loan. The memorandum establishes a framework for cooperation and sets a precedent for cross-boundary financial collaboration. It has been recognised by the HKSAR Government’s Belt and Road Office and the Hong Kong Trade Development Council as a showcase of commercial success under the Belt and Road Initiative The collaboration underscores connectivity between Hang Seng and Hang Seng China, bridging capital from the Middle East to support going-global mainland enterprises and enhancing financial cooperation across Belt and Road economies. It represents the first participation by the Middle East institutions in a cross-boundary green syndicated loan, and is among the first commercial collaborations following the HKSAR Chief Executive-led business delegation to Qatar and Kuwait Gilbert Lee, chief of staff of Hang Seng Bank and vice-chairman of Hang Seng China, said: “As the largest domestic bank in Hong Kong, Hang Seng proactively supports and participates in the Belt and Road Initiative. The signing of this memorandum reflects Hang Seng's commitment to strengthening Hong Kong’s role as a super connector and leading international financial hub. Leveraging Hang Seng’s financial expertise and extensive network, we are dedicated to deepening economic ties between Hong Kong, mainland China and the Middle East, facilitating cross-border capital flows and empowering businesses in Hong Kong and mainland China to expand into dynamic new markets. We also play a pivotal role in supporting green energy development and strengthening Hong Kong’s unique position as Asia’s green finance hub.” Liu Xiaojun, chief financial officer of Jinko Power, said: “As a leading global enterprise in the photovoltaic industry, Jinko Power has a broad presence across Belt and Road markets. This memorandum reflects Hang Seng and Hang Seng China's strong support and expertise in international syndicated financing, as well as global investors’ confidence in China’s new energy sector.” Redisseminated by The Asian Banker
