The DIFC has experienced a surge in interest from Chinese financial institutions and corporations in 2024, driven by the 40th anniversary of diplomatic relations between the UAE and China. This strategic location offers Chinese firms access to markets across the Middle East, Africa, and South Asia, as well as Belt and Road Initiative (BRI) member countries.
A Hub for Chinese Financial Giants
The DIFC has emerged as a preferred destination for leading Chinese banks and financial services firms. Over 30% of the Centre’s total Banking and Capital Markets Assets are contributed by the top five Chinese banks operating within its ecosystem.
Key Chinese financial institutions, including Bank of Communications, Agricultural Bank of China, Bank of China, China International Capital Corporation Securities Limited, CMB International Securities Limited, Construction Bank of China, Industrial and Commercial Bank of China, and SINOSURE, have established their regional headquarters or branches in the DIFC.
Strengthening Economic Ties
The UAE and China share strong economic ties, with the UAE being China’s second-largest trading partner in the region. Trade between the two nations reached USD 81 billion in 2023 and is projected to surpass USD 200 billion by 2030.
Chinese companies have also made significant investments in the UAE, with Dubai ranking among the top three global destinations for Chinese investment. In the first half of 2024, China announced 25 FDI projects in Dubai, totaling USD 122 million.
A Conducive Environment for Business
The DIFC offers a conducive environment for Chinese businesses, with a robust regulatory framework, world-class infrastructure, and a thriving financial ecosystem. The Dubai Financial Services Authority (DFSA) has actively engaged with Chinese financial institutions, facilitating their entry into the market.
Arif Amiri, CEO of the DIFC Authority, emphasized the Centre’s commitment to supporting Chinese businesses: “DIFC has become the financial centre of choice for Chinese entities within the finance sector as well as multinational companies. 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.”
