China's Bank of Communications opens 1st Mideast branch in Dubai

DUBAI, Nov. 28 (Xinhua) -- Bank of Communications (BOCOM), China's state-owned commercial bank headquartered in Shanghai, opened its first Middle East branch on Wednesday at the Dubai International Financial Center (DIFC).

At the inauguration ceremony, BOCOM Chairman of the Board of Supervisors Xu Jiming said the new branch would leverage DIFC's strategic location, which connects the Middle East, Africa, and South Asia, while seizing opportunities arising from the region's rapid development and deepening China-UAE cooperation.

Xu also emphasized the bank's commitment to fostering bilateral trade and investment.

At the ceremony, Chinese Consul General in Dubai Ou Boqian encouraged the bank to leverage the unique advantages of both Shanghai and Dubai as financial hubs to enhance financial and investment ties between China and the UAE.

DIFC Authority CEO Arif Amiri expressed optimism about working with BOCOM to strengthen financial cooperation between China and the UAE.

With this addition, BOCOM now operates 24 overseas branches and representative offices across five continents, further strengthening its global network of 67 international outlets covering major financial centers.