The Hong Kong Monetary Authority (HKMA) and the Asian Infrastructure Investment Bank (AIIB) today (26 June) signed a partnership agreement to support venture capital (VC) in emerging Asia, marking a new milestone deepening the ties and collaboration between the two institutions.
Under the partnership, the AIIB and the HKMA will collaborate closely to invest in a portfolio of VC funds that prioritize investments across emerging markets in Asia. AIIB and HKMA aim to jointly support the development of innovative technologies and business models for green and technology-enabled infrastructure in Asia’s emerging economies, while promoting Hong Kong’s established ecosystem for VCs and innovators across the region.
Paul Chan, the Financial Secretary of the Hong Kong Special Administrative Region Government, said: “Energy transition and infrastructure development of the Global South require substantial financial investment and support from technological applications in various fields. This collaboration combines and leverages HKMA’s and AIIB’s knowledge, experience, networks, and strengths. It supports emerging Asian economies in accelerating their development towards more prosperous and inclusive growth through innovation and technology. Additionally, it aids in building a more vibrant venture capital and innovation ecosystem within the region and further reinforces Hong Kong's status as an international financial, innovation and technology center.”
Eddie Yue, Chief Executive of the HKMA, said: “As a leading innovation technology hub, as well as a green finance hub in Asia, Hong Kong has been a staunch supporter of innovation and sustainable investment. We are pleased to join hands with the AIIB, which enables the HKMA to tap into its extensive expertise and network in sourcing investable opportunities in emerging Asia with a proper risk management and governance framework. We believe this strategic partnership will provide a demonstration effect on the scaling of capital for emerging Asia’s innovators.”
Jin Liqun, President of the AIIB, said: “Hong Kong, China is a valued member of AIIB and has played a pivotal role in the Bank’s growth, including through its leading global financial center. The strategic partnership with the HKMA further deepens this relationship. By bringing together our respective strengths and expertise, the partnership will help mobilize capital for infrastructure, foster innovation, and accelerate the transition toward a sustainable and prosperous future across Asia.”
About HKMA
The HKMA is Hong Kong’s central banking institution. The HKMA’s four main functions are: (i) maintaining currency stability within the framework of the Linked Exchange Rate System; (ii) promoting the stability and integrity of the financial system, including the banking system; (iii) helping to maintain Hong Kong’s status as an international financial centre, including the maintenance and development of Hong Kong’s financial infrastructure; and (iv) managing the Exchange Fund.
About AIIB
The Asian Infrastructure Investment Bank is a multilateral development bank dedicated to financing “infrastructure for tomorrow,” with sustainability at its core. AIIB began operations in 2016, now has 110 approved members worldwide, is capitalized at USD100 billion and is AAA-rated by major international credit rating agencies. AIIB collaborates with partners to mobilize capital and invest in infrastructure and other productive sectors that foster sustainable economic development and enhance regional connectivity.
