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Qatar has deepened its ties with China, an increasingly important buyer of Qatari LNG, by inking several major financial deals.
On 3 November, during a state visit of Qatar’s Amir Shaikh Tamim bin Hamad Al Thani to China, the two countries signed deals allowing their central banks to swap currencies to ease trade and investment, and Qatar to invest up to 30bn yuan ($9.6bn) in Chinese securities.
This set the stage for a week of deal making. A day later, the Qatar Investment Authority (QIA), Qatar’s largest sovereign wealth fund with around $170bn in assets, signed a preliminary agreement with China’s state-owned CITIC Group to establish a $10bn fund for investments in Asia Pacific. QIA CEO Ahmad Muhammad al-Sayyid said the SWF plans to invest between $15-20bn across Asia over the coming five years. (CONTINUED - 1068 WORDS)