Mubadala opens Beijing office amid warming ties between China and Gulf states, sources say
- Mubadala’s Beijing-based team, about 10-strong, focuses on direct investments and fund investments in the country, a source said
- Mubadala entered China a few years ago, but had to delay its office opening ceremony due to restrictions imposed during the COVID-19 pandemic, a source said
Abu Dhabi sovereign investor Mubadala Investment Company this week formally opened its Beijing office amid warming ties between the world’s second-largest economy and the Gulf Arab states, five people with knowledge of the matter said.
Mubadala is the second-biggest state fund in Abu Dhabi, the capital of the United Arab Emirates, after Abu Dhabi Investment Authority (ADIA).
While economic ties between China and the Gulf states remain anchored by energy interests, bilateral relations have expanded under the region’s infrastructure, technology and financial push and amid Sino-US geopolitical tensions.
Mubadala entered China a few years ago, but had to delay its office opening ceremony due to restrictions imposed during the COVID-19 pandemic, said one source.
Mubadala’s Beijing-based team, about 10-strong, focuses on direct investments and fund investments in the country, said a second source. Its China portfolio includes JD Industrials, Hasten Biopharmaceutic and online fashion retailer Shein.