Chief Executive John Lee said he hopes to reach a "substantial" number of agreements during his trip to the Middle East, including getting Saudi Arabian oil giant Aramco to list in Hong Kong.
Speaking after arriving in Riyadh as head of a government and business delegation, Lee said he was glad to be received at the airport by Saudi as well as China's consulate officials.
Lee said he will meet with the country's investment minister Khalid Al-Falih on Sunday.
The CE says he hopes the trip will help establish friendships and feature discussions of mutual cooperation.
He said one of the trip's missions is to try and get the Saudi conglomerate, Aramco, to list in Hong Kong, noting the company has a number of subsidiaries outside of its oil business.
"The conglomerate is very multi-dimensional. Besides oil, the firm has a lot of subsidiaries. We will do our best to introduce Hong Kong's advantages, and of course we encourage them to come to Hong Kong for different types of involvement, including getting listed here," Lee told reporters.
The CE said he hopes the firm will learn the opportunities the SAR can provide as an international financial, asset management and risk management centre that is welcomed by sovereignty funds and firms from different places.
When asked whether the SAR would relax listing rules to attract the company, Lee said Hong Kong authorities will work hard in this regard, to improve regulations and attract new tech firms.
Lee also said on social media that he will encourage Middle East firms to set up offices in Hong Kong and to step up cooperation between the two sides.