Saudi Wealth Fund PIF Opens Shanghai Office to Deepen China Investment Links

Saudi Arabia’s Public Investment Fund has launched a second mainland China office in Shanghai as the sovereign wealth fund deepens ties with the world’s second-largest economy.

The Saudi PIF China expansion strengthens the fund’s outbound investment capabilities and supports efforts to attract Chinese companies into Saudi Arabia.

The USD1tr sovereign wealth fund’s Shanghai office, opened earlier in 2026, operates under its Beijing outpost led by Lily Cong.

The move highlights Riyadh’s growing strategic alignment with Beijing across energy, finance and investment, even as the US remains a major investment destination for the kingdom.