{"id":588638,"date":"2023-06-14T00:00:00","date_gmt":"2023-06-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/14\/gulf-wealth-funds-pivot-to-china\/"},"modified":"2023-06-14T00:00:00","modified_gmt":"2023-06-14T00:00:00","slug":"gulf-wealth-funds-pivot-to-china","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/14\/gulf-wealth-funds-pivot-to-china\/","title":{"rendered":"Gulf wealth funds pivot to China"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Gulf wealth funds are shifting their gaze to China: <\/span><span style=\"\">Gulf sovereign wealth funds are <\/span><span>set to invest some USD 1-2 tn in China by 2030 as they look to tap into Asian markets, Hong Kong Stock Exchange CEO Nicolas Aguzin said at <\/span><span>the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.arabchinaconference.com\/\" style=\"\">Arab-China Business Conference<\/a><\/span><span> in Riyadh on Monday, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.thenationalnews.com\/business\/markets\/2023\/06\/12\/china-to-receive-up-to-2tn-in-middle-east-sovereign-investments-by-2030-hkex-ceo-says\/\" style=\"\">the National<\/a><\/span><span style=\"font-weight:400;\">. That\u2019s around 10-20% of the funds\u2019 projected investment capital, which is expected to grow to USD 10 tn from USD 4 tn currently by the end of the decade. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Asia currently isn\u2019t on their radars: <\/span><span>Gulf wealth<\/span><span> funds \u2014 which include Saudi Arabia\u2019s Public <\/span><span style=\"font-weight:400;\">Investment Fund, the Qatar Investment Authority, the Kuwait Investment Authority, and the UAE\u2019s Mubadala \u2014 have currently deployed only 1-2% of their capital in Asia, Aguzin said.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The conference has been good for Saudi-China business ties:<\/span><span> The two countries <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0e9dad25-07c1-44ae-b9d1-4d131dd03746\" style=\"\">signed<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0e9dad25-07c1-44ae-b9d1-4d131dd03746\" style=\"\">USD 10 bn of investment agreements<\/a><\/span><span> in a variety of sectors as they work to deepen economic ties beyond the energy sector.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">China\u2019s next diplomatic play in the Middle East?<\/span><span>Palestinian Authority head <\/span><span>Mahmoud Abbas landed in Beijing to meet Chinese president Xi Jinping, the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/apnews.com\/article\/china-abbas-palestinian-israel-1e3eb36159971254f65ce9a28d985115\" style=\"\">Associated Press<\/a><\/span><span> reports, citing <\/span><span>a statement by C<\/span><span>hina\u2019s Foreign Ministry. The ministry <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/24b1f1fb-d6b6-4cc8-9069-45a3e38daa80\" style=\"\">reiterated<\/a><\/span><span style=\"font-weight:400;\"> that it is willing to act as a peace broker between the Palestinians and the Israelis. \u201cChina supports the resumption of peace talks between Palestine and Israel as soon as possible on the basis of the \u2018two-state solution,\u2019 and is willing to play an active role in this regard,\u201d state broadcaster CCTV quoted the country\u2019s foreign minister as saying.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">China\u2019s rise as peace mediator in the Middle East: <\/span><span>China has been consolidating and <\/span><span>strengthening its ties in the Middle East, as the US relations with leaders in the region deteriorate. Beijing <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/12\/saudi-iran-agree-to-restore-diplomatic-relations-99390\/\" style=\"\">brokered a pact<\/a><\/span><span style=\"font-weight:400;\"> that restored diplomatic ties between bitter foes Saudi Arabia and Iran, marking the country\u2019s emergence as a serious diplomatic power broker.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">AND- <\/span><span style=\"font-weight:700\">Not everyone in Lebanon wants the IMF\u2019s MENA head as the country\u2019s next <\/span><span style=\"font-weight:700\">president:<\/span><span> Hezbollah and its closest allies are mobilizing to block <\/span><span>Jihad Azour<\/span><span>, the IMF director for the Middle East, North Africa, and Central Asia, from <\/span><span>becoming Lebanon\u2019s next president<\/span><span>. The country\u2019s two largest Christian parties <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe848432-02ce-47df-a1ba-c0519270ade4\" style=\"\">are lobbying<\/a><\/span><span> for Azour to lead the country, which has been without a president since October. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/middle-east\/lebanons-hezbollah-mobilises-block-imfs-azour-presidency-2023-06-12\/\" style=\"\">Reuters<\/a><\/span><span>)<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gulf sovereign funds plan USD 1-2 tn investment in China by 2030<\/p>\n","protected":false},"author":1,"featured_media":588639,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7328],"tags":[222,116,72,272,3368,108],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-588638","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-around-the-world","tag-around-the-world","tag-china","tag-enterpriseam","tag-imf","tag-jihad-azour","tag-lebanon","wpautop","entry"],"acf":{"mongo_id":"de7357ff-81d8-4d45-9d6f-52581a40abe8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/6\/698.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Gulf sovereign wealth funds are pivoting to China. PLUS: Mahmoud Abbas in Beijing + Pushback against calls for IMF\u2019s Jihad Azour to lead Lebanon","related_issue":[588616],"teaser":"Gulf sovereign funds plan USD 1-2 tn investment in China by 2030","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/6\/.31630e65-a222-4efc-9aa3-0de186a7bf69.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Gulf wealth funds pivot to China - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/14\/gulf-wealth-funds-pivot-to-china\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gulf wealth funds pivot to China\" \/>\n<meta property=\"og:description\" content=\"Gulf sovereign funds plan USD 1-2 tn investment in China by 2030\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/14\/gulf-wealth-funds-pivot-to-china\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-14T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/698.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/14\/gulf-wealth-funds-pivot-to-china\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/14\/gulf-wealth-funds-pivot-to-china\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Gulf wealth funds pivot to China\",\"datePublished\":\"2023-06-14T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/14\/gulf-wealth-funds-pivot-to-china\/\"},\"wordCount\":391,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/14\/gulf-wealth-funds-pivot-to-china\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/698.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Around the World\",\"China\",\"EnterpriseAM\",\"IMF\",\"Jihad Azour\",\"Lebanon\"],\"articleSection\":[\"AROUND THE WORLD\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/14\/gulf-wealth-funds-pivot-to-china\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/14\/gulf-wealth-funds-pivot-to-china\/\",\"name\":\"Gulf wealth funds pivot to China - 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By the numbers:\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1198.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":580789,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/18\/global-sovereign-wealth-funds-didnt-have-a-great-2022\/","url_meta":{"origin":588638,"position":2},"title":"Global sovereign wealth funds didn\u2019t have a great 2022","author":"enterpriseam admin","date":"18 January 2023","format":false,"excerpt":"Even sovereign wealth funds weren\u2019t spared in the 2022 market sell-off: The value of sovereign wealth funds declined for the first time ever in 2022 on the back of the rout in the global equity and bond markets, according to industry specialist Global SWF\u2019s annual report. Sovereign wealth funds \u2014\u2026","rel":"","context":"In &quot;Macro picture&quot;","block_context":{"text":"Macro picture","link":"https:\/\/enterpriseam.com\/egypt\/category\/explainers\/macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/693.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":610698,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/26\/us-gives-gulf-wealth-funds-the-side-eye-over-china-dealings\/","url_meta":{"origin":588638,"position":3},"title":"US gives Gulf wealth funds the side-eye over China dealings","author":"enterpriseam admin","date":"26 November 2023","format":false,"excerpt":"US cracks down on Beijing influence via Middle East deals: Gulf sovereign wealth funds undertaking acquisitions in the US are being investigated for their ties to China, writes Bloomberg, citing anonymous sources reportedly close to the deals. Abu Dhabi\u2019s Mubadala Authority and Saudi Arabia\u2019s Public Investment Fund are reportedly under\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1346.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571848,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/02\/sovereign-fund-of-egypt-enters-swf-global-rankings-at-43\/","url_meta":{"origin":588638,"position":4},"title":"Sovereign Fund of Egypt enters SWF global rankings at #43","author":"enterpriseam admin","date":"2 June 2020","format":false,"excerpt":"Sovereign Fund of Egypt enters SWF global rankings at # 43: The Sovereign Fund of Egypt (SFE) ranks 43rd out of the world's 93 sovereign wealth funds in the Sovereign Wealth Fund Institute\u2019s (SWFI) latest rankings. The fund currently owns assets worth almost USD 12 bn, accounting for 0.14% of\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":625268,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/mideast-sovereign-wealth-fund-flows-to-china-up-2-2k-y-o-y-in-2023\/","url_meta":{"origin":588638,"position":5},"title":"Mideast sovereign wealth fund flows to China up 2.2k% y-o-y in 2023","author":"enterpriseam admin","date":"25 June 2024","format":false,"excerpt":"Middle East sovereign wealth funds poured some USD 2.3 bn into Chinese companies in 2023","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1534.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/588638","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=588638"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/588638\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/588616"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/588639"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=588638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=588638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=588638"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=588638"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=588638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}