China-UAE trade continues to grow

16/01/2012 - Dubai Investment News Posted by Neil King
China-UAE trade continues to grow

Property investors with interests in Dubai could be among those encouraged by the publication of new figures showing improved trade links with China.According to a senior Chinese diplomat, trade between the UAE and China has grown steadily over the past ten years and is expected to have reached $35 billion last year.In an interview with Xinhua, Chinese Ambassador to the UAE Gao Yusheng explained that trade volume has increased at a speed of 35 per cent annually over the past decade.The expert added that mutual political trust and accelerated economic and trade relations have seen the UAE become China's second largest trading partner in the Middle East.Should the news inspire a number of businesses to relocate to the UAE, there could be a series of opportunities for property investors to embark on new developments.In other news, the latest figures from Central Bank have shown that lending from the 51 largest banks in Dubai increased by 4.2 per cent in the first 11 months of 2011.