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Saudi’s US$700 billion wealth fund is a fan of Alibaba, Pinduoduo, Flat Glass stocks as Middle East-China ties spur new deals

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As China turns westwards to strengthen Middle Eastern ties, investors in the oil-rich states are starting to garner equity stakes in China’s leading tech companies.

CYVN Holdings, backed by the Abu Dhabi government, is spending more than US$1 billion to take a

, by picking up US$738.5 million worth of new shares in the Shanghai-based Chinese EV start-up and a smaller block from a Tencent Holdings affiliate.Get 30% off and stand a chance to win a luxury stay with our ads free Premium Plan

 

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