Mideast Increases Investments In Chinese Market

According to a report by The Asian Investor, Middle Eastern sovereign funds are still optimistic about Chinese stocks. The Abu Dhabi Investment Authority is likely to deepen its hands in the Chinese market especially after strengthening its holdings of local shares traded on the Chinese stock exchanges in the first half of 2021, reports Al-Rai daily. The report stated, “While some asset owners are cautious about Chinese assets, Middle East funds continue to increase investment allocations”. It highlighted the expectation that the Abu Dhabi Investment Authority would increase the allocation of Chinese investments.

The report quoted the Managing Director of Global SWF Diego Lopez as saying, “Investors are somewhat steadfast and tend to be a bit conservative this year when it comes to Chinese stocks. However, some Middle East funds such as the Abu Dhabi Investment Fund with assets worth $ 829 billion, Kuwait Investment Authority with assets worth $ 692 billion, and the Saudi Public Investment Fund with assets worth $ 430 billion, are exceptions”. The report added that the Abu Dhabi Investment Authority was particularly optimistic about China, having invested in the country for about a decade. According to SWF Global research, Abu Dhabi’s holding of Chinese shares increased from $ 300 million in 2015 to $ 1.4 billion as of September 2021.

 

 

 

SOURCE  ARABTIMES

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