Arab Today, arab today uae set to benefit from further china investment in 2016
Last Updated : GMT 19:19:43
Arab Today, arab today
Arab Today, arab today

UAE set to benefit from further China investment in 2016

Arab Today, arab today

Arab Today, arab today UAE set to benefit from further China investment in 2016

China investment in 2016
Beijing - Arab Today

An increasing number of Chinese companies are expected to invest in the UAE's property and manufacturing sectors next year as the government encourages companies to look overseas for growth, officials said yesterday.

Chinese companies are investing more abroad, allowing the country to achieve a balance between inward and outward direct investment for the first time last year as the country transforms into a capital exporter rather than just a goods exporter.

"We are in a transit phase and we are encouraging companies to go abroad, and that means companies are going out, so it's a good opportunity for Dubai and other countries,” Zhang Yi, an economic and commercial counsellor at the Chinese consulate in Dubai, said at a business forum.

While traditionally investors in China were interested in trade with the UAE, and Dubai in particular, they are increasingly eyeing other sectors. China is Dubai's largest trade partner and the UAE's second-biggest trading partner, behind India. Trade with the country is set to reach US$60 billion by the end of the year, according to the UAE Government.

"Recently we found more and more Chinese people who want to invest in real estate and manufacturing [in the UAE],” said Justin Li, the managing director of the Yingke and Shayan law firm in Dubai.

"There is some change because the Chinese government is encouraging Chinese companies to go abroad and invest overseas. In China, we have a lot of foreign currency we need to invest.”

China is the third-largest foreign direct investor in the world, investing more than $100bn a year. Chinese investments overseas are rising even as total global foreign direct investment declined between 2011 and last year, according to an EY report.

"A lot of Chinese companies want to move their manufacturing [base] outside because labour costs are very high in China right now and the environmental requirements are very high,” said Mr Li.

The UAE's relations with China received a boost this week following the visit of Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces. The visit resulted in the signing of a number of agreements.

The Abu Dhabi investment firm Mubadala said on Monday that it would launch a joint fund worth US$10bn with China Development Bank Capital and China's State Administration of Foreign Exchange.

China's One Belt, One Road strategy is boosting investments in infrastructure projects along the medieval Silk Road trade route.

China also renewed its currency swap agreement with the UAE in its latest move to internationalise the Yuan.

The agreement allows the UAE Central Bank to provide up to 35bn Yuan to settle bilateral trades.
Source :The National

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today uae set to benefit from further china investment in 2016 Arab Today, arab today uae set to benefit from further china investment in 2016

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Actress Mervat Amin reveals her role in new series
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 06:04 2017 Thursday ,23 March

Haifa Wahby bets on her new drama show

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 20:03 2017 Saturday ,25 March

Health expert warns from dust sensitivity

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday