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17 July 2024

Over 200 Chinese business leaders attend DMCC's China Business Day

Published
By WAM

DMCC, the Government of Dubai Authority on commodities trade and enterprise and the world’s flagship free zone, hosted a successful China Business Day at Almas Tower. The event celebrated the flourishing commercial ties between the UAE and China, with DMCC providing dedicated support to Chinese businesses looking to expand through Dubai.

The event drew over 200 prominent figures from the Dubai-based Chinese business community, demonstrating DMCC's commitment to attracting Chinese businesses to Dubai. A panel discussion titled "Building business success in Dubai and the UAE with experiences from leading Chinese companies" was also held, featuring representatives from China State Construction Engineering Corporation, Bank of China, China Mobile International Middle East & Africa, Dahua Technology, and Yingke & Shayan Legal Consulting.

Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, expressed his support for the event, stating that the UAE represents one of the strongest economies in the region and has emerged as a prominent global gateway for Chinese businesses, with mutual investments between the two countries continuing to see strong growth in various economic and commercial sectors.

DMCC is home to more than 750 Chinese companies, which accounts for over 12% of all Chinese businesses registered in the UAE. As a leading global trade hub, DMCC offers businesses unparalleled growth opportunities through its world-class infrastructure, services, and facilities.

Ahmed bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC, highlighted the growing relationship between the UAE and China, with bilateral trade expected to reach USD 200 billion by 2030. He emphasised the UAE's significance as a major hub for Chinese businesses to access the fastest-growing markets around the world, acting as a vital gateway for Chinese trade.

Bin Sulayem further added that DMCC has played a key role in strengthening economic ties between the UAE and China by providing a platform for Chinese businesses to establish a foothold in Dubai and expand their international presence.

Wu Yi, Economic and Commercial Counsellor at the Consulate General of the People's Republic of China in Dubai, praised the growing China-UAE relations, with deep political trust, booming economic cooperation, and people-to-people and cultural exchanges coming to the forefront. He expressed his appreciation to Dubai Chambers and DMCC for supporting the growth of this relationship and expressed confidence that events like these would help it prosper even further.

Given China’s importance as a strategic market for both DMCC and the UAE, DMCC has created a bespoke ecosystem tailored to the Chinese business community. This includes the establishment of the Yingtian Chinese Business Centre DMCC in 2017 to aid Chinese companies wanting to set up a company in Dubai; the launch of DMCC’s website in Mandarin to further increase the ease of doing business in Dubai; the opening of a China Service Centre in Almas Tower in 2020, with Mandarin onboarding support across all client touchpoints; and most recently, a representative office in Shenzhen was inaugurated to bring DMCC to the doorstep of Chinese businesses.