Alibaba Group and Ant Group jointly announced on Friday that they will invest about $925 million (RMB 6.6 billion) to purchase 13 floors of office space at One Island East in Hong Kong’s Causeway Bay, where the two companies will establish their new Hong Kong headquarters. The companies said the move marks a significant step in strengthening their international presence. By setting up headquarters in Hong Kong, Alibaba and Ant aim to expand their global operations and reinforce their international business strategies. In a joint statement, the firms emphasized their confidence in Hong Kong’s position as an international business hub and global financial center, expressing optimism about the city’s growing role in global technology innovation. [The Paper, in Chinese]
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