China Securities has received a licence from the Dubai International Financial Centre (DIFC) Authority to set up its regional presence in the Centre, DIFC confirmed on Monday.
The move gives the Beijing-based investment bank a base in Dubai as it looks to deepen ties with the Middle East.
The publicly listed firm is one of China's leading investment banks, with capabilities spanning equity and debt capital markets, investment banking, asset management and institutional services. It has also been authorised by the Dubai Financial Services Authority (DFSA), the independent regulator of financial services conducted in or from DIFC.
The new office will support the Group's engagement with clients, investors and financial institutions across the region. It will also strengthen links between Chinese, UAE and international capital markets, reinforcing Dubai's position as a gateway for investment flows between Asia and the Middle East.
The decision follows sustained engagement between the two organisations. DIFC worked closely with China Securities to outline the opportunities available in Dubai, build its understanding of the regional market and support its long-term international expansion plans.
China Securities becomes the latest Chinese investment bank to join the UAE's only cluster of leading Chinese banks in DIFC. The group already includes Agricultural Bank of China, Bank of China, Bank of Communications, China Construction Bank, China International Capital Corporation Limited, China Merchants Bank International and Industrial and Commercial Bank of China, alongside other major securities and financial services firms.
China's five largest banks together account for more than 30 percent of total assets in DIFC's Banking and Capital Markets sector.
News Source: Emirates News Agency
