“This money is important because they often create good demonstrative effect to their local industry and the general public” to tap the Chinese and Hong Kong market, Hui said. “This is the kind of money that we want to see coming in, not just for its own sake, but also for the wider impact.”
About US$2.3 billion of Middle East sovereign wealth fund capital flowed into the greater China market last year, Hong Kong Monetary Authority’s Kenneth Hui said at a conference on June 24.
The number was up from about US$100 million in 2022, external executive director of HKMA Hui said, citing data from Global SWF. Multiple financial institutions and regulators have made trips to the gulf region to engage with the market, which traditionally was served by Europe before, he added.
