GETTING CLOSER

Qatar Investment Authority strengthens ties with China

Mideast sovereign wealth funds have invested $7 billion in China over past year, five times the amount as in the previous 12 months

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Doha skyline at sunset

Qatar and China are strengthening investment ties amid U.S. warnings to its Gulf allies about getting too close to Beijing.

Most recently, the Qatar Investment Authority agreed to buy a 10% stake in ChinaAMC, the country’s second-largest mutual fund, from Hong Kong-based Primavera Capital, Reuters reports.

China has become one of the major importers of liquefied natural gas from Qatar, the No. 3 exporter of LNG.

Middle East sovereign wealth funds have invested $7 billion in China since June last year, five times the amount seen during the previous 12 months, according to industry data provider Global SWF.

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