MIDDLE MEN BETWEEN EAST AND MIDDLE EAST
A growing volume of Arab capital has been finding its way into China — either through direct joint-venture investment or indirectly through equity holdings in Hong Kong financial institutions with China connections. And the Chinese have not been slow in responding to Arab overtures.
It is telling that the first, and so far only, bank with foreign equity incorporated in China involves substantial Arab capital. An Arab bank was also among the first four foreign banks given permission, late last year, to operate a branch in the People’s Republic.
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