BP is the next target for the Chinese state-owned sovereign wealth fund operator State Administration of Foreign Exchange (Safe), after the latter built up a stake in French oil major Total.
BP has reportedly acknowledged that it is aware of the $2 billion worth Chinese holding and also reiterated that it is not against such investments.
This announcement has come as the British Chancellor of Exchequer, Alistair Darling, said that he is not opposed to investment by sovereign wealth funds in UK-based companies, as long as they are only commercially motivated.
