Chinese companies are stepping up efforts to unlock business opportunities in the Middle East to hedge against worsening US-China trade ties, hoping to use the region as a springboard to expand into new markets in Africa and Europe, reports Hong Kong's South China Morning Post.
Firms include Hong Kong start-up NEXX Global, a logistics platform operator backed by CK Asset Holdings, and Beijing-based franchise platform operator Tojoy, according to the company officials.
NEXX, which uses generative artificial intelligence to help warehouses reduce costs and improve efficiency, will sign a memorandum of understanding with one of the largest state-owned Qatari logistics groups and Hong Kong-based KEC, a subsidiary of KLN Logistics during a trade mission this week. They aim to create market access in the six countries within the Gulf Cooperation Council (GCC).
Hong Kong Chief Executive John Lee Ka-chiu is leading a delegation of local and mainland businesses to Qatar and Kuwait from this week to strengthen ties with the region. Bilateral trade between Hong Kong and the two Gulf nations reached $1.8 billion last year, 40 per cent more than in 2018, according to government data.
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Firms include Hong Kong start-up NEXX Global, a logistics platform operator backed by CK Asset Holdings, and Beijing-based franchise platform operator Tojoy, according to the company officials.
NEXX, which uses generative artificial intelligence to help warehouses reduce costs and improve efficiency, will sign a memorandum of understanding with one of the largest state-owned Qatari logistics groups and Hong Kong-based KEC, a subsidiary of KLN Logistics during a trade mission this week. They aim to create market access in the six countries within the Gulf Cooperation Council (GCC).
Hong Kong Chief Executive John Lee Ka-chiu is leading a delegation of local and mainland businesses to Qatar and Kuwait from this week to strengthen ties with the region. Bilateral trade between Hong Kong and the two Gulf nations reached $1.8 billion last year, 40 per cent more than in 2018, according to government data.
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