According to the information published on the website of China's top securities regulator, 45 billion US dollars of public investment funds have applied for the license of qualified foreign institutional investors in China. This will enable it to trade RMB-denominated stocks directly without going through a third party.
It makes sense for Saudi Arabia to lean towards China, because Saudi Arabia has always hoped to develop economic ties through the investment of sovereign funds. China is Saudi Arabia's largest trading partner and Saudi Aramco's largest customer.
At present, Saudi sovereign wealth funds have not disclosed any investments in China, and their publicly disclosed investments are mainly concentrated in the United States and Europe. But this sovereign fund, which can control $2 trillion in assets, has the ambition to become a global investment power.
Last March, with the collapse of global markets in the epidemic, Saudi sovereign funds received $4 billion from Saudi reserves and bet that the stock would recover quickly.
At the end of June last year, Saudi sovereign investment funds bought shares of American listed companies such as Walter Disney, BP and Boeing, with a value of 1.0 1 billion dollars. Three months later, as the market soared, the company sold most of its shares. ?