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The Hong Kong Monetary Authority will partner with Saudi Arabia’s sovereign wealth fund to launch a $1 billion investment vehicle to facilitate Chinese companies’ expansion into the Gulf kingdom.
Paul Chan, Hong Kong’s financial secretary, announced in a conference today (November 18) that the territory’s de facto central bank would “soon” launch the vehicle with Saudi Arabia’s Public Investment Fund (PIF). He did not specify a timeline.
Chan said the fund would support companies in Hong Kong and
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Sovereign Wealth – centralbanking.com
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