China and UAE to establish $10 Billion co-investment fund
The new fund reportedly will be managed by the UAE’s Mubadala Development Co., China Development Bank Capital and China’s State Administration of Foreign Exchange while it will address strategic sectors including conventional and renewable energy, infrastructure, and technology and advanced manufacturing. The new fund is also expected to open ways to alternative investments in emerging markets.
Via the new joint fund, China aims to strengthen its commercial and political ties with the Middle East and to build new trade routes between East and West while the UAE eyes to strengthen its position of being a logistics hub for Chinese trading activities with Europe, the Middle East and Africa.
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