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  • Writer's pictureBy The Financial District

Middle East Wealth Starts Flowing Into China

Oil-rich gulf monarchies are leveraging their wealth to deepen ties with China amid anxiety about the future of their longstanding security partnership with the US, Sam Dagher, Henry Meyer, and Ben Bartenstein reported for Bloomberg News.


Photo Insert: The Saudi Public Investment Fund (PIF) had applied for an institutional investor license in China, long before the squabble between Washington, D.C. and Riyadh.



Seven months after President Xi Jinping participated in the first China-Gulf summit in Riyadh, economic exchanges between the world’s second largest economy and nations like Saudi Arabia and the United Arab Emirates have been accelerating — moving well beyond crude purchases where Beijing has been dominant for years.



The kingdom seeks to increase its holdings to assets worth $ 2 trillion.

However, Matthew Martin reported for Al-Jazeera as early as November 2021 that the Saudi Public Investment Fund (PIF) had applied for an institutional investor license in China, long before the squabble between Washington, D.C. and Riyadh.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

PIF’s investments had been concentrated in the US and Europe but the Saudi move comes at a time when China continues to be hobbled by a grim property market, high youth unemployment, low consumer spending, and huge local government debt.





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