"Dubai International Financial" It enhances the position of Chinese multinational companies

Dubai, December 10, 2017 – The Dubai International Financial Center has strengthened its position as a strategic gateway for Chinese financial institutions and multinational companies in the United Arab Emirates.
Chinese companies use the center to access markets in the Middle East, Africa and South Asia, as well as Belt and Road countries with strong connections through Dubai.
During 2024, the Center witnessed an increase in interest from banks, wealth and asset management companies, and major companies and institutions in the insurance and reinsurance sector, primarily due to the strong diplomatic relations that have linked the United Arab Emirates and the People’s Republic of China over 40 years.
The biggest names in the Chinese banking and financial services sector have established their operations from the Dubai International Financial Centre, where 30% of the entities in the country are among the companies listed on the Global Fortune 500 list.
Last month, the Bank of China Communications opened its regional headquarters in the Dubai International Financial Centre, joining other financial institutions including the Agricultural Bank of China, the Bank of China, China International Securities Co., Ltd., CMB International Securities Co., Ltd., and the Bank of China. Construction of China, Industrial and Commercial Bank of China, and China Export and Credit Insurance Corporation (Sinoshore).
It also established major multinational companies, such as the National Petroleum Corporation (CNPC), the Li Auto Company, the Nio Company, the China Petroleum and Petrochemical Corporation (Sinopec), the Chinese State Grid Corporation (State Grid), and the Terminus Company. And ZTE has headquarters within the center’s wide system.
The Dubai International Financial Center includes the UAE’s only group of Chinese financial companies, including the five largest banks, which together contribute more than 30% of the total banking and capital markets assets in the center.
Chinese banks are active in issuing bonds on Nasdaq Dubai, including green bonds, with the proceeds used in renewable energy projects, seawater desalination, clean energy, and transportation in the UAE and the region in general.
Over the years, Chinese issuers have listed debt instruments with a total value exceeding $22 billion on Nasdaq Dubai, and in November, the Chinese Ministry of Finance listed two bonds worth $2 billion on Nasdaq Dubai.
The Dubai Financial Services Authority, which is the independent regulator of financial services conducted in or from the Dubai International Financial Centre, has also witnessed an increase in requests and interest from the Chinese market. Recently, the Dubai Financial Services Authority, in cooperation with the Alternative Investment Management Association, hosted an introductory visit to management companies. Chinese wealth and assets looking to establish their headquarters in the Dubai International Financial Centre.
Arif Amiri, CEO of the Center Authority, said: “The Dubai International Financial Center has become the preferred financial center for Chinese entities in the financial sector as well as multinational companies, which contributes to strengthening and consolidating economic relations between the two countries, especially as they celebrate the fortieth anniversary of the launch of diplomatic relations. “This will lead us to welcome more Chinese companies.”
He stressed the commitment to providing Chinese companies with the best enabling platform to help them enhance their growth and expansion in the Middle East, Africa and South Asia region.
According to data from the Dubai Foreign Direct Investment Monitor, in the first half of 2024, China announced 25 foreign direct investment projects in Dubai, with a total investment of $122 million, which represents a large portion of foreign direct investment in Dubai, which highlights the growing role For Chinese companies in the region.

The total Chinese investments in the UAE reached $7.7 billion between 2003 and 2023.
Dubai has remained a major destination for Chinese investments, as it ranks third globally in terms of investment value.
The UAE is China’s second largest trading partner by 2022-2023. The volume of trade exchange between the two countries reached $81 billion in 2023, and is expected to rise to $200 billion by 2030.

The UAE is China’s most important strategic trading partner in the Arab region, as about 60% of Chinese trade is re-exported through UAE ports to more than 400 regional cities.

• For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and