Saudi Arabian ETFs Debut in China

Two Saudi Arabian exchange-traded funds debuted in mainland China, allowing Chinese investors to access Saudi stocks directly with their own currency, strengthening financial ties between the two countries. These ETFs, managed by China Southern Asset Management and Huatai-PineBridge Investment, raised a total of 1.2 billion yuan and outperformed the market index on their first day of trading. The ETFs offer mainland investors convenient access to Saudi markets without the complexities of overseas accounts or currency exchanges, focusing on major Saudi businesses like Saudi Aramco. This move signifies China's increasing investment in Saudi Arabia, with Beijing becoming the most active foreign investor in the kingdom, emphasizing the energy and financial sectors over traditional US or Japan investments.