World business and finance leaders convened in Hong Kong for the FII Priority summitover the weekend. Public Investment Fund (PIF) chief Yasir Al Rumayyan, wearing his hat as chairman of the Future Investment Initiative (FII), led a Saudi delegation to Hong Kong in what we see as the latest move in the Kingdom’s drive into Asia.

The gathering got plenty of attention in the global business press, including from the Financial Times, which quotes FII head Richard Attias as saying that both the chair and CEO of the Hong Kong Exchange have “close friends’ at the FII and have been “extremely active” in visiting Saudi Arabia.

Talking up ties: Beijing’s relationship with Riyadh “is going to be an amazing connection that has been underdeveloped in the past,” Hong Kong Exchange Chair Laura Cha said at the conference on Thursday. “The Middle East is rising in terms of geopolitical importance as well as in terms of economic development,” Cha added.

An Aramco offering in Hong Kong? Chinese officials are reportedly eyeing an offering by oil giant Aramco in Hong Kong in a bid to boost the attractiveness of the market, according to the FT. Their hopes come just days after the first exchange-traded fund tracking the Tadawul started trading in Hong Kong, as we recently reported.

Expect a lot of traffic in the China-Saudi air corridor in the new year: “We also see Saudi investors interested in Hong Kong and China equities, but they have limited knowledge of the market. We’re going to try to bring Hong Kong and China to Saudi and the Middle East in the new year.” CSOP CEO Ding Chen told Bloomberg TV last month.

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