Dubai, UAE – His Excellency Essa Kazim, Governor of Dubai International Financial Centre (DIFC), the leading financial hub in the Middle East, Africa, and South Asia region (MEASA), has received the Vice-Governor of the People’s Government of the Hubei Province in China, Cao Guangjing, as part of a high-profile delegation to the Centre.

During the visit, which was facilitated by Zhou Jianjun, General Manager and Regional Head at Bank of China (Dubai) Branch, the parties discussed collaboration opportunities as part of China’s Belt and Road Initiative. In addition, new areas of growth that would be of interest and benefit to Chinese institutions based in the Centre were explored.

Commenting on the visit, HE Essa Kazim, said: “China is a very important market to us at DIFC. We are constantly identifying new areas of collaboration with key entities to unlock the long-term growth of Chinese businesses through the Centre. The high-profile delegation we received China’s from Hubei Province is another chapter in our China-focused efforts and in DIFC’s longstanding relationship with the country”.

He added: “Leading Chinese institutions continue to capitalise on their presence in DIFC to access growth opportunities across the MEASA region and the South-South corridor. This is particularly evident in the high ranking that the UAE achieved in the global index of nations that stand to benefit most from China’s Belt and Road Initiative. The Hubei province is very important to this approach due to its strategic economic position alongside the Yangtze river, and its growing importance as a regional financial centre for inland China.”

DIFC is home to the regional headquarters of China’s four largest banks in terms of total assets – Bank of China, Agricultural Bank of China (ABC), Industrial and Commercial Bank of China and China Construction Bank Corporation – all currently operating as fully-fledged branches. In addition, the Centre has attracted China’s most distinguished corporations, including PetroChina, Shanghai Electric Investment, ZTE Corporation, New Silk Road Company and CMEC Thar Mining Investments, to setup their regional presence from within DIFC.

During the recent state visit by Chinese President, Xi Jinping, DIFC also signed a Memorandum of Understanding (MoU) with China Everbright Group. The agreement supports the Group’s business development across the MEASA region, while leveraging the Centre’s strategic location and world-class platform to manage its investments and access growth opportunities in the emerging markets.

-Ends-

About Dubai International Financial Centre

The Dubai International Financial Centre (DIFC) is one of the world’s top financial centres, and the leading financial hub for the Middle East, Africa and South Asia. The Centre provides a world-class platform connecting the region’s markets with the economies of Europe, Asia and the Americas and facilitates growth in South-South trade and investment. An onshore, international financial centre, DIFC offers a stable, mature and secure base for financial institutions to develop their wholesale businesses.

The Centre offers all the elements found in the world’s most successful financial industry ecosystems, including an independent regulator and judicial system with a common-law framework, a global financial exchange, inspiring architecture, powerful, enabling support services and a vibrant business community. The infrastructure within the district features ultra-modern office space, retail outlets, cafes and restaurants, art galleries, residential apartments, public green areas and hotels.

Located midway between the global financial centres of New York, London in the West and Singapore, Hong Kong in the East, DIFC (GMT +4) fills a vital time-zone gap with a workday that bridges the market and business hours of financial centres in both Asia and North America.

In 2015, DIFC launched its 2024 growth strategy, a blueprint for the next decade of growth of the financial hub. This strategy aims to stimulate trade and investment flows along the South-South economic corridor encompassing the Middle East, Africa, Southern Asia and Latin America.

Currently, 2,003 active registered companies operate from the Centre, with a combined workforce of 22,768 professionals.

DIFC continues to pursue expansion into new services and sectors within the Middle East, Africa and South Asia region, an area comprising over 72 countries with an approximate population of 3 billion and nominal GDP of US$7.7 trillion.

For further information, please visit our website: difc.ae, or follow us on Twitter @DIFC.

For media enquiries, please contact:

Manal Shaikh

Dubai International Financial Centre Authority

Senior Manager, Communications

Tel: +971 4 362 2453

Email: manal.shaikh@difc.ae

Joudi Issa

Brunswick Group

Tel: +971 4 560 9600

Email: DIFC@brunswickgroup.com

© Press Release 2018

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.