Kuwait Investment Authority is a Cornerstone Investor in Industrial and Commercial Bank of China.
Bader M. Al-Sa'ad, the Managing Director of the Kuwait Investment Authority (KIA), the authority responsible for the management of Kuwait's investments, announced that it became a cornerstone investor in the Industrial and Commercial Bank of China (ICBC), the largest commercial bank in China.
Mr. Al-Sa'ad said, " The KIA is proud to become a key investor in ICBC. This participation demonstrates Kuwait's deepening economic ties with China as well as showcase the long term strategic value of KIA as a core invester. This participation also marks the beginning of KIA's long term strategic investment plan in China, which the KIA hopes to extend to many other sectors."