BAKU, Azerbaijan, September 8. A delegation led by Israfil Mammadov, Executive Director of the State Oil Fund of the Republic of Azerbaijan (SOFAZ), is on a business visit to the People’s Republic of China aimed at strengthening investment cooperation and expanding mutually beneficial partnerships, Trend reports.
Throughout the engagement, the delegation engaged in a
synergistic roundtable discourse with high-ranking officials from
the Chinese governmental apparatus. The platform convened
preeminent global institutional stakeholders, facilitating a direct
nexus for discourse between proactive investors in China and
governmental representatives.
The SOFAZ delegation convened a strategic dialogue with Zhang
Qingsong, the Chairman and CEO of the China Investment Corporation
(CIC), wherein they delineated targeted domains for synergistic
collaboration and articulated subsequent action items for their
joint initiatives.
The Memorandum of Understanding signed between ARDNF and the China Investment Corporation during President Ilham Aliyev’s state visit to China in April 2025 marked a significant milestone in institutional cooperation between the sovereign wealth funds of the two countries. The agreement has helped strengthen the China-Azerbaijan partnership by providing a strategic framework for knowledge exchange, development of sustainable investment models based on shared values, and promotion of mutually beneficial investment initiatives.
Established in 1999 with assets amounting to $271 million at the time, SOFAZ is an extrabudgetary fund that operates as a distinct legal entity, independent of the government or central bank. SOFAZ protects and judiciously administers energy-derived revenues for current and forthcoming generations. During this era, the Fund has evolved institutionally and attained international recognition as an asset management organization.
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