Hong Kong Financial Secretary Paul Chan Mo-po released his diary, in which he said that the visit to Riyadh, Saudi Arabia, last week was fruitful. The Hong Kong Monetary Authority and the Saudi Arabian Public Investment Fund (PIF) signed a memorandum to jointly establish a US$1 billion investment fund, which will invest in the business of Hong Kong and Guangdong-Hong Kong-Macao Greater Bay Area companies in the fields of manufacturing, renewable energy, financial technology and healthcare in Saudi Arabia. In addition, a financial technology company from Hong Kong Cyberport signed a business agreement with a local partner.