DMCC ANNOUNCES 25% ANNUAL GROWTH IN CHINESE MEMBER COMPANIES AS IT CONCLUDES FIRST 2024 CHINESE TRADE ROADSHOWS IN HONG KONG AND SHANGHAI
- DMCC concludes Made For Trade Live roadshow in Hong Kong and twin events in Shanghai to attract new Chinese members
- 852 Chinese companies registered with DMCC in 2023, an increase of almost 25% from the previous year
- DMCC is now home to over 14% of the estimated 6,000 Chinese businesses operating in the UAE across core industries including technology and precious metals
SHANGHAI and HONG KONG, March 4, 2024 /PRNewswire/ -- DMCC – the world's flagship free zone and Government of Dubai Authority on commodities trade and enterprise – continued its campaign of attracting Chinese businesses to Dubai by hosting three events in Hong Kong and Shanghai as part of its Made for Trade Live roadshow.
The events in Shanghai and Hong Kong came following a 25% year-on-year increase in new Chinese member companies setting up in DMCC in 2023, including major industry players Autel Robotics and Hebei Logistics Group Metal Materials, showcasing the continued strength of DMCC's draw among the Chinese business community. The new figures reveal that DMCC is now home to over 14% of the estimated 6,000 Chinese businesses based in the UAE.
Given China's position as the UAE's largest non-oil trading partner, DMCC is optimistic about further opportunities for collaboration and the compelling proposition that Dubai presents for Chinese businesses looking to expand through global markets.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: "For the past two years we have maintained consistent 25% growth in Chinese companies joining DMCC. Such strong numbers are testament to our ability to provide both the bespoke services and quality commercial space demanded by Chinese business. With 852 Chinese companies operating from our international business district today, we are proud that DMCC is one of the biggest hubs for Chinese business in Dubai across so many critical sectors – a position we will consolidate in the future as we improve our Chinese services offering further and deepen trade and investment flows."
His Excellency Muhannad Sulaiman Al Naqbi, Consul General of the United Arab Emirates in Shanghai, attended both events in Shanghai. He said: "The UAE and Shanghai share a deep connection built on a foundation of collaboration and thriving trade ties. The work that DMCC is doing to further this cause reflects the major opportunities on offer as we work together to boost bilateral trade, and the global trade landscape as a whole."
Almost 500 Chinese executives attended the events to hear speakers discuss opportunities open to Chinese businesses through DMCC's business ecosystems. The three events were held in partnership with Ningbo Chamber of Commerce in Shanghai, Yingke Law Firm, the Chinese Manufacturers' Association of Hong Kong, Forever Forward, HKMEIF, Dentons, Donghao Lansheng, FSG, Yingke.
DMCC made two visits to China last year, hosting roadshows in Shanghai, Guangzhou, Chongqing, Shenzhen and Hong Kong to connect with businesses in some of China's most dynamic markets. DMCC's Made for Trade Live roadshows play an influential role in showcasing Dubai as a prime destination for business. Through the series, DMCC highlights Dubai's unique value proposition to attracting FDI to the emirate. DMCC now accounts for 11% of Dubai's annual FDI inflows.
About DMCC
Headquartered in Dubai, DMCC is the world's most interconnected Free Zone, and the leading trade and enterprise hub for commodities. Whether developing vibrant neighbourhoods with world-class property like Jumeirah Lakes Towers and the much-anticipated Uptown Dubai, or delivering high performance business services, DMCC provides everything its dynamic community needs to live, work and thrive. Made for Trade, DMCC is proud to sustain and grow Dubai's position as the place to be for global trade today and long into the future. www.dmcc.ae
SOURCE Dubai Multi Commodities Centre
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