Kuwait Investment Authority (KIA) has opened an office in Beijing, The National reports. The move comes as Gulf wealth funds seek to benefit from the China’s rapid economic expansion amid growing turmoil in the euro zone.
The sovereign wealth fund’s office will closely work with its head office and chiefly act as its platform for spotting lucrative investment opportunities in the Far East, focusing initially on China. The new establishment will also help KIA manage key relationships with the Chinese government.
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