In terms of investment and finance, the two sides actively engaged in mutual investments and enterprise cooperation amid the background of the global economy being upgraded.
Initiated by China in 2013 and officially established in December 2015, the Asian Infrastructure Investment Bank (AIIB) has provided abundant fund-raising opportunities for its members in the areas of energy and infrastructure. The UAE officially joined the AIIB in April 2015.
China and the UAE established a 10 billion-US dollar investment fund in 2015, aiming to promote diversified business investments in a range of areas. The fund also played a key role in supporting the Belt and Road Initiative.
Enterprises of the two countries have broad cooperation in the fields of oil and gas, clean energy, finance, and infrastructure.
The Dubai Multi Commodities Center (DMCC), the largest free zone in the United Arab Emirates (UAE), also provided Chinese firms with convenient conditions.
China National Petroleum Corporation (CNPC) and Abu Dhabi National Oil Company (ANDOC) jointly founded a company named Al Yasat Petroleum in 2014, and the CNPC holds 40 percent of the shares.
China’s Alibaba and Dubai’s Miraas Holding announced the joint investment in the construction of the Dubai Data Center. In October 2015, the joint venture company Yvolv established by the two companies launched its first mobile application, Yvo.
