Arab Today, arab today china trade expands from goods to financial feld
Last Updated : GMT 23:57:51
Arab Today, arab today
Arab Today, arab today

China trade expands from goods to financial feld

Arab Today, arab today

Arab Today, arab today China trade expands from goods to financial feld

Beijing - QNA

“China is a big country, and we consult people about where to put the money, in which Chinese province, in which industries, and so on,” said Mufti. Regarding cross-border trade, the Chinese RMB is increasingly accepted by Arab importers. According to Norman Chan, CEO of the Hong Kong Monetary Authority, exports and imports done in RMB by the UAE account for only 4 percent of the Gulf state’s total foreign trade “but chances are high that this figure will rise to double-digit in the coming years.” Tian said ICBC has taken part in important syndications and witnessed growing volumes of RMB transactions. ICBC recently signed a memorandum of understanding with Qatar’s sovereign wealth fund Qatar Holding in order to boost bilateral cooperation and investments between Qatar and China. The UAE’s biggest bank Emirates NBD jumped on Feb. 6 on the RMB- bandwagon by launching RMB-denominated accounts and deposits in order to support small and medium enterprises (SME) to conduct trade settlements. Commercial Bank of Dubai (CBD) recently launched Tianlong Chinese Banking, offering a range of retail products and services solely customized for Chinese nationals in the Gulf country. In order to reach out to potential clients, CBD sponsored the Festival of Spring in Dubai which marked the start of the Chinese Year of the Snake. According to the Dubai Chamber of Commerce and Industry, there are 3,000 Chinese firms licensed in the UAE. For Mark McFarland, chief investment strategist private banking at Emirates NBD, the Sino-Arabian financial journey is far from over. “We haven’t seen significant investments by Chinese nationals into local GCC markets yet, but there is a huge potential.” McFarland, who worked for a couple of years as a banker in Hong Kong, said in the UAE, there are 200,000 Chinese expatriates, more than twice the number of British nationals. He noted that some wealthy Chinese people have already started investing in property in Dubai and Abu Dhabi, and “the longer they stay in the country, the more they will consider Arab capital market as alterative vehicles of investment.”

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 china trade expands from goods to financial feld Arab Today, arab today china trade expands from goods to financial feld

 



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 Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
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: نفط وبتروكيماويات
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 Merna Waleed praises her work with Soad Hosni

GMT 07:03 2017 Wednesday ,22 March

Merna Waleed praises her work with Soad Hosni
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 07:12 2017 Tuesday ,21 March

Donia Abdel Aziz participates in "Game of Silence"

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 07:38 2017 Friday ,24 March

Pass health bill Friday or he'll move on

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
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