DIFC supports Boao Forum for Asia Financial Cooperation Conference and highlights the importance of Dubai's relationship with China

Prestigious event will be attended by China’s former Vice Premier and Vice Chairman of the BFA Zeng Peiyan, as well as 300 government officials, global finance leaders and academics

28 October, 2014, Dubai, UAE – Staging the Boao Forum for Asia (BFA) Financial Cooperation Conference in Dubai is a tremendous opportunity for the emirate to further develop its role as a financial hub and gateway for China into its key markets, according to Dubai International Financial Centre (DIFC).
 
“The forum is recognised as the most prestigious forum in Asia and holding it in the Middle East for the first time demonstrates the growing importance of the relationship between Dubai and China and other sub-regions of Asia, as well as the impact it has on economic development,” said Chirag Shah, Chief Strategy and Business Development Officer, DIFC, speaking at a panel discussion held by DIFC to introduce its community to the event being hosted by the Dubai Government from 23-25 November 2014.

“An open and transparent regulatory framework – combined with our strategic location – have given solid foundations to China and Dubai’s relationship. DIFC, already home to four of China’s biggest banks, is a global financial hub ideally positioned to support China’s growth into emerging markets and we look forward to discussing win-win opportunities that can further strengthen our partnership.”

Joining Mr Shah on the panel was Hongbin Cong, Managing Director, Invest Dubai, Falcon, and Xiyu Yang, Executive Vice President, Boao Forum for Asia Institute.

“Dubai’s selection as the host city is recognition of its ever-increasing role as a global financial hub, facilitating trade and exchange between Asia and markets, from the Middle East, Africa, Europe and beyond,” said Mr Yang. “Our focus is on driving the integration of Asian countries into the global economy, bringing them closer to their development goals, and Dubai and the UAE – sitting at the crossroads between East and West, within a four-hour flight from one-third of the world’s population – has a key role to play in supporting Asia’s growth momentum.

“Financial cooperation is pivotal to regional and international economic integration. We believe that this high-level dialogue and exchange is a significant opportunity for all those involved and we can discover mutually beneficial outcomes and ways we can work together to develop Asia’s financial tieswith Dubai, and the many markets it connects.

“The event will be attended by Zeng Peiyan, China’s former Vice Premier and BFA Vice Chairman, and his presence – along with 300 other high-ranking government officials, global finance leaders, policy makers and academics -will help to foster the strong and existing ties between China and Dubai and the UAE.”

The conference, facilitated by Falcon and Associates and staged at Atlantis the Palm,Dubai, will focus on the role of financial cooperation to achieve win-win partnershipsacross sectors such as energy; the opportunities presented by both Islamic Finance and Dubai as an international financial centre; innovations driving the development of financial markets; and how infrastructure connectivity propels economic growth.