HONG KONG (Reuters) -- China has given approval for Qatar's sovereign wealth fund to acquire a stake of 10% in its second-largest mutual fund company, the first such investment in the sector by a major Middle East investor at a time of rising tension with the West.
Wealth Management
China approves Qatar sovereign fund to buy a tenth of its top asset manager
Deal comes as Beijing pushes to strengthen ties with Gulf nations
Doha-headquartered Qatar Investment Authority is set to become a stakeholder in China Asset Management Co. (Yukihito Taguchi-USA TODAY Sports via Reuters)
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