British media reports that due to the difficulty of raising funds in China after the crown disease epidemic to stimulate economic development, the Chinese local government is striving to invest in the Middle East and Asian sovereignty wealth funds.
The Financial Times reported in accordance with the saying of wealth fund officials, corporate executives, and Chinese local government officials who learned and participated in the discussion, Chinese local government officials have already been with the Qatar Investment Bureau, the institutions of the Saudi Arabian Public Investment Fund, as well asAbu Dhabi Investment Bureau held a high -level meeting.
They also contacted other Asian government investment institutions including Singaporean government investment companies.
Reported that these meetings highlight the deepening economic and diplomatic relations between China and the Middle East, and the latter has traditionally been the scope of the United States.At the same time, global investors are trying to obtain funds from the Middle East, because the Gulf countries have a large amount of oil dollar after oil prosperity last year.
A senior official in southern China said: "Their (sovereign wealth fund) is eager to increase investment in China, and we need to introduce more investors .../P>
Shenzhen, Guangzhou, Chengdu and other cities, as well as Sichuan Province and other local governments, have established funds this year to raise funds for investment in the fields of preferred matters, including semiconductors, biotechnology, new energy,,, new energy,,, new energy,,, new energy,,, new energy,,, new energy,,,, new energy, new energy,,,, new energy, new energy,,,, new energy,,,,,High -tech manufacturing and infrastructure areas.
Many local governments have seek international investment for the first time and set their ambitious goals.The Guangzhou Municipal Government hopes to raise 200 billion yuan (the same below, about S $ 38.3 billion).In January of this year, Shenzhen and Saudi Public Investment Fund established the first Middle East-China Cooperation Fund with a scale of US $ 1 billion (about S $ 1.327 billion).
The above -mentioned senior officials said that many local government representatives have contacted the Middle East Fund in recent months, hoping to increase investment in biotechnology, new energy, infrastructure and construction industries.
According to the data of the Research Institution's Qingke Research Center (ZERO2IPO), as of October last year, more than 2,000 government -guided funds in China controlled 4.3 trillion yuan in the mainland.After the outbreak, it is difficult for many newly established funds to raise private capital.
Officials said that the traditional private equity investors of these funds cannot or are unwilling to support local industries and development.They added that many investors think they are too risky.At the same time, the central government hinted that it would no longer be rescued by the local government, and the latter was previously affected by the zero -epidemic prevention policy, and now faces the pressure of liquidity in the real estate industry.
The report quoted another Chinese official and said: "Due to the prevention and control of the epidemic and the decline in economic decline, the financial situation of the local government has become so bad, and even the salary of civil servants cannot be paid ...How can we find funds to invest in local industries? But if the government does not invest, the economy will continue to decline, so we will take the willingness to invest in sovereign funds seriously. "
A western provincial official said that he usedWith the enterprise to Saudi Arabia, Qatar and other places, the representatives of the sovereign wealth fund interested in Chinese technology companies were discussed.
The unnamed Sichuan official said: "Their (representative of the sovereign wealth fund) in the past mainly invested in a large private equity institution as a limited partner. Now they are trying to invest in Chinese projects directly."The official added that many projects are still discussing."At present, in terms of technology, they are still focusing on mature technology. We hope to help local technology startups get new funds."
