Hong Kong Targets Prized Aramco Listing With Xi’s Backing
- City’s leader is on a tour of Middle Eastern countries
- Xi has tasked Lee with courting investment from new allies
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Two months after Chinese President Xi Jinping visited Saudi Arabia, Hong Kong’s leader John Lee has followed in his footsteps by taking a sizable entourage to the kingdom.
Lee, who wrapped up a two-day trip to Saudi on Monday, made it clear his goal is to persuade oil giant Saudi Aramco to list in the financial hub despite competition from rivals such as New York and London. Such a move would be a major victory for Lee, who, since taking power in July, has focused on reopening Hong Kong after years of pandemic isolation battered the city’s economy and reputation.