CICC new branch to enhance Sino-UAE economic links

China International Capital Corporation, or CICC, one of China's biggest investment banks, on May 15 inaugurated its branch in the International Financial Centre in Dubai, marking a strategic entry into the premier financial hub in the Middle East, Africa and South Asia.

The new branch operates under China International Capital Corporation Hong Kong Securities Limited, holds a Category 4 license and is regulated by the Dubai Financial Services Authority, or DFSA, an independent regulator for business conducted in or from the DIFC.

CICC now joins China's "Big Five" state banks in the DIFC, where Chinese financial institutions collectively manage $65.3 billion in assets as of 2024, a 33 percent growth over three years, per DFSA data.

Chen Liang, chairman of CICC, said the opening of the CICC DIFC Branch marks a significant milestone in the bank's international expansion strategy, vowing to deliver innovative financial solutions that facilitate cross-border capital flows and foster deeper economic ties between China and key global markets.

"From the United Arab Emirates, a key gateway for the Gulf region, we will build tailored solutions to serve regional clients 'evolving needs' while supporting Chinese enterprises seeking strategic opportunities abroad, contributing financial momentum to the high-quality development of the Belt and Road Initiative," he said.

DIFC is a strategic gateway for the region for Chinese financial institutions and multinational firms. The biggest names in the Chinese banking and financial services industry have made their presence in DIFC, out of which 30 percent are Fortune 500 companies.

As economic ties expand between the UAE and China, DIFC is committed to offering a well-developed platform that will help Chinese business expand and scale in the Middle East, Africa and South Asia. Dubai's specific plans for the adoption of artificial intelligence in every sector with the support of the DIFC's Dubai AI Campus are synergistic with China's advanced research and technology development capabilities.

Essa Kazim, governor of DIFC, expressed enthusiasm about CICC's entry into DIFC. He said, "We are delighted to welcome CICC to DIFC, bolstering the strategic relations between the UAE and China. It underscores our commitment to offer a vast, well-developed ecosystem to help Chinese businesses expand and scale within the Middle East, Africa and South Asia region, strengthening DIFC's position in shaping the future of finance and boosting excellence in innovation."

With Chinese roots and international reach, CICC provides high-quality and value-added financial services to a diversified set of clients, building up a balanced, full-service model based on research and information technology that empowers investment banking, equities, FICC (Fixed Income, Currencies and Commodities), asset management, private equity and wealth management businesses.

CICC has been pivotal in China's capital market evolution by integrating global practices with local knowledge. The firm has expanded globally with offices in major cities like Hong Kong, New York, London, Singapore, Frankfurt, and Tokyo.

With the launch of the new branch, CICC aims to becoming the premier two-way investment banking gateway between China and the Gulf region, leveraging its expertise in facilitating capital flows, structuring cross-border investments and advising on strategic opportunities. The branch will work closely with sovereign wealth funds, financial institutions, major corporations and other partners to help them actively participate in China's capital market projects and strengthen business collaboration between China and the broader Gulf region, according to a news release by the firm.