Finance
Chinese Firms Jostle With US Peers for Sliver of Gulf Oil Riches
- Gulf sovereign wealth funds look for Chinese investments
- Middle East countries want partners to build their economies
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A wave of Chinese banks, asset managers and hedge funds are ramping up in the Middle East, jostling with Wall Street firms who are making their own expansion push in a region flush with oil wealth.
Those efforts were on show in recent months, when a string of executives from China’s $1.35 trillion sovereign wealth fund made their way to the Middle East in the hope of finding a way to invest in the region.