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E-mail Xinhua, February 28, 2025
A Chinese business delegation, led by the China Council for the Promotion of International Trade (CCPIT), concluded a two-day economic and trade exchange in Dubai, strengthening practical cooperation between the business communities of China and the United Arab Emirates (UAE).
"This exchange is part of efforts to implement the outcomes of the first China-Arab States Summit and the 10th ministerial conference of the China-Arab States Cooperation Forum, fostering precise industrial chain cooperation between China and the UAE," said CCPIT Chairman Ren Hongbin.
According to Sun Xiao, secretary-general of the China Chamber of International Commerce, six cooperation agreements were signed across various sectors during the visit, demonstrating the strong interest of Chinese enterprises in the UAE market.
China remains the UAE's largest trading partner, while the UAE is China's second-largest trading partner in the West Asia and North Africa region and its top export market. In 2024, bilateral trade exceeded 100 billion U.S. dollars for the first time, marking a 7.2 percent year-on-year increase.
Khalifa Rabaa, chief operating officer at the Dubai Financial Market, noted that cooperation between China and the UAE has expanded beyond traditional energy trade into financial markets. Several Chinese banks have issued bonds on Nasdaq Dubai, reflecting growing financial collaboration between the two sides.
During the exchange, several Chinese business representatives underscored the complementary strengths of the two economies and the promising prospects for cooperation.
"The enthusiasm of Chinese enterprises to participate in exhibitions in the Middle East has been rising in recent years," said Wang Hailin, chairman of the Middle East International Exhibition Group.
He noted that exhibitions in the UAE are in high demand as many Chinese companies are shifting their focus from traditional markets in Europe and the United States to emerging markets in the Middle East, Africa and South America.
Chinese investment in the UAE is also expanding across infrastructure, financial services, renewable energy, life sciences and artificial intelligence.
"We have witnessed the deepening ties between China and the UAE," said Lu Jing, president and vice Chairman of the Standard Chartered Bank (China). "The Standard Chartered China-UAE corridor business has achieved double-digit growth for three consecutive years."
She said Chinese enterprises' increased investment in the UAE is contributing to the country's economic diversification, energy transition and technological advancement. Meanwhile, the UAE continues to serve as a strategic gateway for Chinese businesses seeking to expand into the Middle East, North Africa and beyond.
