Sovereign funds in the Middle East have increased their investments in Chinese stocks as the region’s appetite for renminbi-denominated assets grows. Abu Dhabi Investment Authority (ADIA), the Middle Eastern sovereign wealth fund with the most managed assets, is in the process of purchasing 156.7 million shares of Hong Kong-listed Shandong Fengxiang Co Ltd, a Chinese chicken products producer. Middle Eastern sovereign wealth funds have been speeding up investments in China this year. In Q2 2023, ADIA became a new major shareholder of 10 A-share companies, including Zijin Mining Group Co Ltd, one of China’s biggest gold producers, while Kuwait Investment Authority bought shares of 11 A-share companies.
Sovereign funds in the Middle East increase investments in Chinese stocks
