Search

Middle East sovereign wealth funds invested $2.3 billion in the greater China market in 2023, a significant increase from the previous year. This influx of capital is seen as important because it has a positive impact on the local industry and the general public, according to Kenneth Hui of the Hong Kong Monetary Authority. Hong Kong has been actively seeking funding from Saudi Arabia and other Middle Eastern countries to revitalize its stock market, which experienced a decline in initial public offerings due to market volatility and tensions between China and the US. [Extracted from the article]

(Bloomberg) -- China International Capital Corp. plans to expand its reach in the United Arab Emirates and Saudi Arabia as President Xi Jinping pushes for closer ties to the Middle East amid rising tensions with the US. A relatively new market, the Middle East has parallels to how Hong Kong financiers viewed as the vast untapped market in the Chinese mainland, said Chan. [Extracted from the article]