Latest news with #ChinaAssetManagement
Al Arabiya
23-05-2025
- Business
- Al Arabiya
China approves Qatar to buy a tenth of its top asset manager
China has given approval for Qatar 's sovereign wealth fund to acquire a stake of 10 percent in its second-largest mutual fund company, the first such investment in the sector by a major Middle East investor at a time of rising tension with the West. China's securities watchdog approved the Qatar Investment Authority (QIA) to become a stakeholder in China Asset Management Co (ChinaAMC), an official filing by the China Securities Regulatory Commission showed on Thursday. The price of the stake was not disclosed. Earlier filings by ChinaAMC's largest shareholder showed the 10 percent ownership would not be priced at less than $490 million. In April last year Reuters first reported the sovereign fund had agreed to invest in the Chinese fund house. QIA will become the third-biggest shareholder in ChinaAMC, which has assets of more than 1.8 trillion yuan ($249.98 billion),and provides mutual funds and exchange traded funds to retail and institutional investors. The deal was approved amid a flurry of activity between China and Gulf countries aiming to deepen political, economic and financial ties. ($1 = 7.2005 Chinese yuan renminbi)
Reuters
23-05-2025
- Business
- Reuters
China approves Qatar sovereign fund to buy a tenth of its top asset manager
HONG KONG, May 23 (Reuters) - China has given approval for Qatar's sovereign wealth fund to acquire a stake of 10% in its second-largest mutual fund company, the first such investment in the sector by a major Middle East investor at a time of rising tension with the West. China's securities watchdog approved the Qatar Investment Authority (QIA) to become a stakeholder in China Asset Management Co (ChinaAMC), an official filing by the China Securities Regulatory Commission showed on Thursday. The price of the stake was not disclosed. Earlier filings by ChinaAMC's largest shareholder showed the 10% ownership would not be priced at less than $490 million. In April last year Reuters first reported the sovereign fund had agreed to invest in the Chinese fund house. QIA will become the third-biggest shareholder in ChinaAMC, which has assets of more than 1.8 trillion yuan ($249.98 billion)，and provides mutual funds and exchange traded funds to retail and institutional investors. The deal was approved amid a flurry of activity between China and Gulf countries aiming to deepen political, economic and financial ties. ($1 = 7.2005 Chinese yuan renminbi)
South China Morning Post
25-03-2025
- Business
- South China Morning Post
Hong Kong market seen funding more ‘jaw-dropping' Chinese start-up innovations
Hong Kong's capital markets are poised to provide the long-term funding that will help start-ups in mainland China deliver more 'jaw-dropping' innovations in coming years, speakers at an investment summit said on Tuesday. Advertisement 'China has many enterprises that are low-key, but they are not 'lying flat', as many of them are working very hard on various innovation and technology developments,' Bonnie Chan Yiting, CEO of bourse operator Hong Kong Exchanges and Clearing (HKEX) , said on the opening day of the three-day HSBC Global Investment Summit 2025 in Hong Kong. Thanks to recent listing reforms , HKEX is ready to support biotechnology and other technology firms in raising funds in Hong Kong, even if some of them have not yet earned any income, she said during a panel discussion. 'Hong Kong, where many institutional investors and sovereign funds trade, can provide the long-term funding needed by these start-ups to provide more jaw-dropping technology breakthroughs in future,' she said. Li Yimei, CEO of China Asset Management, said many investors were investing for short-term returns, so the Chinese government recently called on insurance companies to invest more in stocks to provide long-term funding for these start-ups. Advertisement 'For investors, it is the beginning of a long-term journey to invest in China's innovation story, yielding benefits in the future,' she said. 'They need to be patient as many of these technology developments need huge sums of investment for many years to achieve a breakthrough. But [ artificial intelligence start-up] DeepSeek has proven that Chinese start-ups have the ability to deliver technological breakthroughs.'
