Mubadala together with its partners in China has so far committed $1bn towards about 10 opportunities, Khaled Al Shamlan, the head of sovereign investment partnerships at Mubadala Capital told the inaugural Belt-and-Road financial summit in Beijing in May. "In our short operations of two-and-a-half years in the Chinese market, we have managed to evaluate more than 150 [opportunities for] investments … some of them are at the closing phase," he told the conference. Emirates Global Aluminium, a Mubadala portfolio company that is the largest industrial entity in the UAE outside the oil and gas sector, has also recently opened its offices in Shanghai in an effort to expand its footprint and extend its customer base into the region.