UAE's Growing Influence: USD 10 Billion China Investment Before BRICS Entry
The United Arab Emirates (UAE) has emerged as a significant global player, with a gross national income per capita of USD 87,729 as of July 2023, ranking seventh worldwide. This prosperity has fueled increased UAE investments in China, with the UAE set to join BRICS in 2024.
The UAE's growing interest in China's venture capital and private equity landscape is evident. Regional players like Singapore, the US, Canada, Australia, and the UK have boosted UAE engagement by collaborating internationally and recognizing China's innovation hub status. Mubadala, a UAE sovereign wealth fund, has established a local investment team in Beijing, managing assets worth USD 287 billion, with a substantial portion invested in China through the China-UAE Fund.
UAE investments in China focus on the new economy, with over 20 Chinese companies, including Xpeng Motors and Kuaishou, benefiting from UAE capital. The UAE plans to invest up to USD 10 billion in China, led by key players like Abu Dhabi Investment Authority (ADIA) and Mubadala. This growing economic and commercial relationship was symbolized during the Asian Games in Hangzhou, where the UAE delegation waved both UAE and Chinese flags.
The UAE's robust economy and strategic investments in China are set to strengthen further with its impending BRICS membership. As the UAE continues to invest in Chinese enterprises and the broader economy, the 'desert princes' nickname reflects the emirate's growing influence and wealth.
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