Dubai International Financial Centre (DIFC) is becoming increasingly pivotal for Chinese financial entities accessing the Middle East, Africa, and South Asia (MEASA) markets, as well as the Belt and Road Initiative (BRI) countries.
In 2024, DIFC saw increased engagement from banks, asset management firms and large corporations, driven by 40 years of UAE-China diplomatic ties, the centre has reported. Notably, 30% of Chinese entities at DIFC are Global Fortune 500 companies, with recent additions including the Bank of Communications and other major Chinese banks.
Chinese financial companies in DIFC account for over 30% of its banking and capital markets assets. They actively issue bonds on Nasdaq Dubai, funding regional renewable and clean energy projects. Since November, China’s Ministry of Finance listed $2 billion in bonds here.
“DIFC has become the financial centre of choice for Chinese entities within the finance sector as well as multinational companies,” said Arif Amiri, CEO of DIFC.
“Economic ties between the UAE and China continue to deepen as the two countries mark their fortieth year of diplomatic relations. We remain committed to providing Chinese businesses with the best-in-class platform that will help shape their growth and expansion within the Middle East, Africa and South Asia region.”
In early 2024, China announced 25 FDI projects worth $122 million in Dubai. Chinese investments in the UAE totalled $7.7 billion from 2003 to 2023. The UAE is China’s second-largest trading partner, with trade expected to reach $200 billion by 2030.
