WeBank, the digital bank based in Shenzhen and owned by Tencent, has recently set up its technology company headquarters in Hong Kong.
Assisted by the Financial Services and the Treasury Bureau (FSTB) and Invest Hong Kong (InvestHK), WeBank’s new technology headquarters in Hong Kong will support its research and development (R&D) initiatives and facilitate the commercialization of technology solutions for global markets.
According to Invest Hong Kong, the bank intends to invest up to US$150 million in Hong Kong and generate high-skilled technology jobs in the city. Hong Kong’s pivotal role in the Belt and Road Initiative, along with its proactive stance towards frontier technologies and robust fintech ecosystem, made it the ideal choice for WeBank. Additionally, the city’s well-developed international financial services sector further bolstered its appeal to the bank.
president of WeBank, Li Nanqing, said, “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.” She added, “We are excited to contribute to and benefit from the city’s dynamic fintech ecosystem, robust infrastructure, and strategic connectivity. We look forward to collaborating with local partners, stakeholders and attracting talent on this exciting next step of our journey.”
Alpha Lau, director-general of InvestHK, said: “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.” She added, “The numerous strategic enterprises that have recently announced the opening of international R&D centres and headquarters in Hong Kong is clear evidence that our city possesses clear advantages in enabling globally scaled companies to achieve their ambitions.”
Founded in 2014, WeBank is a digital-only bank privately backed by Tencent and several Chinese enterprises. It specializes in fintech innovation, particularly in advanced technologies like AI, blockchain, cloud computing, and big data. According to the announcement, WeBank caters to more than 4.5 million micro, small, and medium-sized enterprises, and nearly 400 million individuals across Mainland China.