U.A.E., China Create $10 Billion Strategic Investment Fund
- Fund seeking investments in energy, renewables, technology
- Agreement follows plan to form $75 billion India fund
China and the United Arab Emirates agreed to create a $10 billion co-investment fund to make strategic deals around the world as the Gulf nation seeks to strengthen ties with its largest trading partners.
The U.A.E.-China Joint Investment Cooperation Fund will be managed by Abu Dhabi’s Mubadala Development Co., China Development Bank Capital, and China’s State Administration of Foreign Exchange, according to the U.A.E.’s state-run WAM news agency. It will seek investments in areas including conventional and renewable energy, infrastructure, technology and advanced manufacturing, with the governments of China and Abu Dhabi providing equal funding. The agreement was signed during a visit to China by Crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed Al Nahyan.