Hong Kong hosted the first-ever LEAP East technology summit, attracting 35,000 innovators and solidifying its position as a global technology hub.

When Saudi Arabia Meets Hong Kong: A Global Signal from a Tech Summit

In July 2026, the Hong Kong Convention and Exhibition Centre witnessed a historic moment: the inaugural LEAP East Summit concluded here. This global tech event, originally rooted in Saudi Arabia, chose Hong Kong for its first foray outside the Middle East, attracting over 35,000 innovators from 30 countries and regions, more than 340 speakers, 450 exhibitors, and over 400 investors. The numbers themselves are stunning, but what deserves greater attention is the structural change reflected behind this summit — a new tech corridor connecting the Middle East and Asia is accelerating.

From Riyadh to Hong Kong: A Shift in the Strategic Axis

Since its launch in Saudi Arabia in 2019, the LEAP Summit has quickly become one of the largest tech gatherings in the Middle East. Its eastward expansion to Hong Kong is not a simple relocation of venue, but a deep alignment between Saudi Arabia's "Vision 2030" and Hong Kong's "re-industrialization" strategy. Saudi Minister of Communications and Information Technology Abdullah Alswaha attended in person, joined by Hong Kong's Financial Secretary Paul Chan and Secretary for Innovation, Technology and Industry Sun Dong, sending a clear signal: Gulf capital and Asian innovation are seeking more direct linkages.

Paul Chan announced at the opening ceremony that LEAP East will be held in Hong Kong for at least three consecutive years. This commitment makes Hong Kong a permanent gateway for Middle Eastern capital to enter Asia's tech ecosystem. For Saudi Arabia, Hong Kong is not only a springboard to the Chinese mainland market, but also a hub for financial, legal, and professional services that are urgently needed in its economic diversification process.

Finance+ Strategy: The Chemical Reaction of Capital and Innovation

Hong Kong's core strategy unveiled at the summit was "Finance+" — using finance as an enabler to drive innovation in the real economy. Paul Chan stated bluntly: "Innovation needs capital, and Hong Kong is where capital and creativity meet." This positioning precisely captures Hong Kong's unique advantages: a common law system that protects intellectual property, free capital flow, a low tax environment, and the ability to seamlessly connect with the Chinese mainland.

For global investors, Hong Kong's appeal is recovering. In 2025, the Hong Kong IPO market returned to the world's top spot with 119 listings and about $35 billion in fundraising, including many tech giants. At LEAP East, Hong Kong opened its arms to Saudi and Gulf enterprises, inviting them to use Hong Kong as an international financing and risk management platform. This two-way flow of "capital + innovation" may reshape the landscape of Asian tech investment.

The Rise of an Ecosystem Behind the Numbers

Another significance of the summit is that Hong Kong's innovation and technology ecosystem has moved from "potential" to "results."Another significance of the summit is that Hong Kong's innovation and technology ecosystem has moved from "potential" to "tangible results". Professor Sun Dong cited the latest data: the number of startups in Hong Kong has grown by 40% since 2021, reaching 5,200 in 2025. In international rankings, the "Shenzhen-Hong Kong-Guangzhou Innovation Cluster" ranked first globally in the *Global Innovation Index 2025*; Hong Kong ranked fourth in the *World Digital Competitiveness Ranking 2025* and second in the *World Competitiveness Yearbook 2026*.