Posted by Neil King
China Construction Bank (CCB) has expressed interest in setting up a regional branch in the Dubai International Financial Centre, it has been revealed.
At a meeting in Dubai with the emirate's deputy ruler Shaikh Maktoum Bin Mohammad Bin Rashid Al Maktoum, CCB chairman Guo Shuqing said the company was keen to have an operational base in the region given the large number of Chinese companies operating in the UAE, Gulf News reported.
Meanwhile, Shaikh Maktoum said Guo Shuqing's visit would usher in a new era of relations between the banking sectors of both countries.
According to the newspaper, he praised China's rise on the global economic stage, noting that the UAE, and Dubai in particular, was looking to further economic and financial cooperation with China, which is currently the UAE's second largest trading partner.
Last week, Dubai Airports' chief executive officer Paul Griffiths claimed that Dubai's air passenger numbers will grow from over 40 million today to 150 million by 2030.