The Hong Kong government announced that WeBank, a digital bank based in Shenzhen, has set up its technology company headquarters in Hong Kong.
This initiative, supported by the Financial Services and the Treasury Bureau (FSTB) and Invest Hong Kong (InvestHK), represents a significant investment of up to US$150 million and aims to create high-skilled technology jobs in the city.
The establishment of WeBank’s operation in Hong Kong has been the result of extensive coordination between the FSTB and InvestHK to ensure that the company is well positioned for success upon commencing its activities in our city,”
said the Director-General of InvestHK, Alpha Lau.
She noted that strategic enterprises setting up international research and development (R&D) centers and headquarters in the city underscore Hong Kong’s advantages for globally scaled companies. InvestHK is dedicated to supporting the growth of such enterprises within Hong Kong’s dynamic business environment.
Li Nanqing, President of WeBank, expressed optimism about the new headquarters, highlighting Hong Kong’s role in global business connectivity and financial technology innovation.
“Hong Kong has emerged as a centre of excellence in global business connectivity and financial technology innovation. It offers us an ideal environment to advance our innovation and expand our international footprint,”
said Li Nanqing.
The new headquarters will focus on research and development activities and the commercialisation of technology solutions for global markets.
WeBank chose Hong Kong because it is ready to embrace frontier technologies, build a vibrant fintech ecosystem, and maintain a well-established international financial services sector. WeBank’s presence aligns with Hong Kong’s goals under the Belt and Road Initiative.
WeBank delivers inclusive financial services to over 4.5 million micro, small, and medium-sized enterprises and nearly 400 million individuals in Mainland China. To date, the bank has filed over 3,800 patent applications.
Featured image credit: Edited from Freepik