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Saudi Arabia's $1Tn Wealth Fund Opens Shanghai Office As China Ties Deepen
Saudi Arabia's $1Tn Wealth Fund Opens Shanghai Office As China Ties Deepen
Via The Cradle
Saudi Arabia’s Public Investment Fund (PIF) opened a second office in mainland China earlier this year, establishing a Shanghai branch to expand dealmaking and attract more Chinese investment into the kingdom, Bloomberg reports.
The office was registered last year, falls under PIF’s Beijing branch, and is led by Lily Cong, a former chief representative of Fidelity International in China’s capital.
Source: Britannica
The Shanghai outpost was reportedly created to strengthen the $1 trillion fund’s ability to pursue outbound deals in China,...
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