June 12, 2023
China, the world’s second-largest economy, is set to receive $1 trillion to $2 trillion in investments from top sovereign funds in the Middle East by 2030 as they look to pivot to Asia amid a rapid rise in their investment capital, the chief executive of Hong Kong Stock Exchange (HKEX) has said. This investment capital is expected to grow to about $10 trillion by the end of this decade and “we estimate somewhere between 10% and 20% will be invested in China”, said Mr Aguzin, a former JP Morgan banker. Sovereign funds that hold significant stakes in publicly listed companies across the world have started pivoting to the broader Asia region, particularly to China as their economic growth continues to outpace the global average. With China being the main trading partner of about 140 economies in the world, this capital will start to move out of the country and flow to eastern and western markets, which also bodes well for trade in the Middle East, Mr. Aguzin said.
Read the original article in The National: China to receive up to $2 trillion in Middle East sovereign investments by 2030, HKEX CEO says