Press Releases

  • 16 May 2018

DIFC’s Governor & China’s Vice Minister of Commerce Hold Talks On Future Collaboration

  • Meeting focused on DIFC-China longstanding relationship and enhancing collaboration
  • 34% compound annual growth rate of Chinese banks’ regional assets managed from DIFC since 2015

Dubai-UAE: 16 May 2018 – His Excellency, Essa Kazim, Governor of Dubai International Financial Centre (DIFC), and Arif Amiri, Chief Executive Officer of DIFC Authority, yesterday hosted a senior delegation from China, led by Mr Qian Keming, Vice Minister of Commerce of People’s Republic of China.

The meeting, which was also attended by members from the DIFC senior management team, focused on the growing importance of DIFC’s longstanding relationship with Chinese institutions, and areas of collaboration that can support the One Belt, One Road initiative.

During the visit, DIFC also acknowledged the commitment from the many Chinese companies that continue to use the Centre as their preferred location to access growth opportunities in the Middle East, Africa, and South Asia (MEASA) region and across the South-South corridor.

His Excellency Essa Kazim said: “Dubai has always been a focal point for trade and investment flows across the South-South corridor, and we have always seen China as a very important part of this corridor. We pride ourselves on the strong ties we have built with China, and the Chinese financial community in particular. The level of interest we continue to see from Chinese institutions, together with the growth trajectory of Chinese companies operating from the Centre is testament to the growing role of DIFC as a gateway to growth. The world-class infrastructure and legal and regulatory environment remain a key differentiator for DIFC, and an important point of attraction for Chinese institutions looking to access the MEASA region via Dubai."

The meeting commenced with a presentation relating to how DIFC has become the leading international hub for the MEASA region. DIFC’s recent roadshow to Beijing, as well as the growing representation of Chinese institutions in the Centre and the growing interest of Chinese companies in DIFC’s FinTech ecosystem were also covered.

DIFC is the regional headquarters to China’s four largest banks in terms of total assets; Bank of China, Agricultural Bank of China, ICBC and China Construction Bank Corporation.

In 2017, DIFC continued to see growth from the registered Chinese financial institutions, which accounted for 22% of total assets booked in the Centre as at the end of Q3 2017. The total value of these assets reached USD 33.4 billion, a 30.5% increase from USD 25.6 billion reported in year-end 2016. 

A recent survey also ranked the UAE as third in a global index of nations that stand to benefit most from the One Belt, One Road Initiative.

Downloads

Press Release: DIFC’s Governor & China’s Vice Minister of Commerce Hold Talks On Future Collaboration - English
Download
Press Release: DIFC’s Governor & China’s Vice Minister of Commerce Hold Talks On Future Collaboration - Arabic
Download

We pride ourselves on the strong ties we have built with China, and the Chinese financial community in particular. The level of interest we continue to see from Chinese institutions, together with the growth trajectory of Chinese companies operating from the Centre is testament to the growing role of DIFC as a gateway to growth."

His Excellency, Essa Kazim, Governor of DIFC

Press Centre

Register now to get exclusive access to under embargo documents, press releases, reports & more. The DIFC Press Centre is a password-protected site for working journalists.

Sign Up
Join Our Mailing List
Subscribe

For media enquiries

Hajar Al Ketbi
Vice President - Corporate Communications & Public Relations

Enquire now

MORE DIFC NEWS

FinTech Hive at DIFC Calls on Applicants for 2018 Accelerator Programme
19

May

2018
news
FinTech Hive at DIFC Calls on Applicants for 2018 Accelerator Programme
Read More
DIFC’s Governor & China’s Vice Minister of Commerce Hold Talks On Future Collaboration
16

May

2018
news
DIFC’s Governor & China’s Vice Minister of Commerce Hold Talks On Future Collaboration
Read More
DFSA Expands FinTech Innovation Testing Programme
16

May

2018
news
DFSA Expands FinTech Innovation Testing Programme
Read More