Saudi developer ACWA Power has signed a strategic partnership framework with Prolos China to explore renewable energy investments across China. The initiative focuses on centralized wind power, photovoltaic solar installations, and energy storage assets. The agreement supports ACWA Power's broader target of deploying $30 billion in China by 2030 across green power, desalination, and green hydrogen.
China is increasingly integrating its new quality productive forces framework into Gulf diversification programs, spanning renewable energy, AI, and digital networks. Gulf sovereign wealth funds and technology firms are adjusting their investment strategies amid mounting U.S.-China technological competition and regional risks. Meanwhile, Chinese firms are expanding industrial footprints in Saudi Arabia, the UAE, and Oman.
Gulf sovereign wealth funds accounted for 62 percent of the US$10.3 billion attracted by China from state-owned investors in 2024. Capital flows are concentrating in finance, downstream petrochemicals, renewables, logistics, and digital infrastructure amid supportive regulatory reforms.
Abu Dhabi's Mubadala led GCC sovereign wealth funds in the first nine months of 2026, deploying $26.2 billion globally. China, including Hong Kong, emerged as the second-largest international destination for Gulf sovereign capital, attracting 10% of total invested funds.
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