Hong Kong and Saudi Arabia to launch $1bn fund
HKMA will team up with Saudi sovereign wealth fund to help Chinese firms invest in Middle East
The Hong Kong Monetary Authority will partner with Saudi Arabia’s sovereign wealth fund to launch a $1 billion investment vehicle to facilitate Chinese companies’ expansion into the Gulf kingdom.
Paul Chan, Hong Kong’s financial secretary, announced in a conference today (November 18) that the territory’s de facto central bank would “soon” launch the vehicle with Saudi Arabia’s Public Investment Fund (PIF). He did not specify a timeline.
Chan said the fund would support companies in Hong Kong and
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