Reported 4 months ago
Chinese banks, asset managers, and hedge funds are expanding in the Middle East to invest in the region's oil wealth, competing with Wall Street firms. Chinese sovereign wealth funds are establishing a presence in the Middle East, with China Investment Corp. announcing a $1 billion private equity fund. As the Chinese economy slows, firms are looking for growth opportunities in the Middle East, where governments are investing in infrastructure. Chinese banks are considering full-service operations in the Gulf, and other Chinese financial institutions are also increasing their presence in the region. The US continues to be a significant investment destination, but Middle Eastern countries are strengthening ties with China, raising concerns in the US about China's influence in the region.
Source: YAHOO