China plans to invest in Aramco IPO

Last Thursday (7), sources told Bloomberg’s website that Chinese state-owned enterprises were evaluating a $5 billion and $10 billion investment in Aramco’s initial public offering. The Silk Road Fund, a Chinese government state investment fund, oil company Sinopec and sovereign wealth fund China Investment Corp. would be involved in the proposal.

China’s President Xi Jinping said that a investment made in Aramco could generate many benefits for the country, seen that, in addition to strengthening trade ties, would increase political and would resume old trade routes under the “Belt and Route” initiative (strategy development adopted by the Chinese government involving the development of infrastructure and investments in countries in Europe, Asia and Africa).