HONG KONG — Growing connections between China and the Middle East are prompting Chinese and Hong Kong financial companies to set up shop in Dubai as they tap opportunities in trade finance and wealth management services.
Last week, the Dubai Financial Services Authority (DFSA) granted state-owned investment bank China International Capital Corporation (CICC) a license to operate in the Dubai International Financial Centre, a special economic zone, Ian Johnston, the regulator’s chief executive, told Nikkei Asia on the sidelines of the Asian Financial Forum in Hong Kong on Tuesday.
