Author: admin

DUBAI, Nov. 1 (Xinhua) — China International Capital Corporation (CICC), a leading investment bank, has held its wealth management forum in Dubai, the United Arab Emirates (UAE), attracting around 200 participants from government, business, and financial sectors to discuss investment opportunities in China and global asset allocation.

Themed “Invest in China, Invest in Future,” the forum on Friday featured nearly 20 representatives from China’s leading new-economy enterprises and global asset management firms who engaged in in-depth discussions on China-UAE cooperation.

During the event, the CICC unveiled the international edition of its “China Top 50,” an integrated buy-side advisory solution, for the first time in the Middle East, and signed a memorandum of cooperation with the Arab Federation for Digital Economy.

Owen Wu, member of the CICC executive committee, deputy president, and managing director of CICC Wealth Management, said that as Middle East countries are shifting from “looking East” to “going East,” their sovereign wealth funds are increasingly deepening investment in China.

“As a key participant and builder in the development of China’s capital markets, the CICC will continue to leverage its professional capabilities to expand China’s investment network and promote new landscapes of China-UAE investment cooperation,” he added.

Kevin Liu, chief offshore China and overseas strategist at CICC Research, noted that Chinese assets have performed strongly this year, with the Hong Kong market outperforming major global markets.

“The RMB has remained resilient amid a complex external environment, and exports have also exceeded market expectations,” Liu said, adding that, as the global economy grows more complex, structural opportunities in China’s capital markets are becoming increasingly evident. While Hong Kong, as a “super connector,” will continue to play a vital role in linking Chinese and international markets.

Statistics from the People’s Bank of China showed that, in the first nine months of this year, the amount of cross-border RMB receipts and payments between China and the UAE reached 864 billion yuan (about 122 billion U.S. dollars). Meanwhile, the UAE’s sovereign wealth fund has also been engaged in stock, bond, and private equity investments in China. ■