Chinese financial institutions, including a $1.35 trillion sovereign wealth fund, are competing with US peers to invest in the Middle East oil sector.
Chinese financial institutions are competing with US peers to invest in the oil-rich Middle East. Chinese executives from a $1.35 trillion sovereign wealth fund recently met with regional asset managers, leading to a first-of-its-kind $1 billion private equity fund. This expansion comes as President Xi Jinping meets Gulf leaders, and as the US deepens its Middle East push, scrutinizing the growing ties between the region and China.
June 03, 2024
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