Image: CICC
China International Capital Corporation (CICC), a leading China specialist investment bank, recently launched its Dubai International Financial Centre (DIFC) office — marking its first official presence in the Gulf region.
In an interview with Gulf Business, Barry Chan, head of Asia-Australia Region, outlines how the firm aims to drive two-way capital flows within the China-GCC corridor, tapping into the Gulf’s trillion-dollar investment potential and growing appetite for cross-border collaboration.
What prompted CICC to establish a presence in Dubai’s DIFC, and how does this move fit into your global growth strategy?
CICC has long monitored the economic landscape of the Gulf region. The overall macroeconomic performance of Gulf countries has been impressive year on year, historically driven by the prominence of the oil and gas sector. More recently, strong performance has also been increasingly supported by non-oil sectors.
Investment activity has surged, with sovereign wealth funds and private investors actively deploying capital internationally and domestically — into infrastructure, real estate, technology, healthcare, and energy transition projects. Gulf sovereigns are projected to reach $18tn in assets under management by 2030, reinforcing their global influence.
Attracted by the Gulf market’s scale and growth, CICC has been keen to establish a presence in the DIFC to develop capital flows both ways within the China-GCC economic corridor. By leveraging Dubai’s role as a gateway to regional markets, we aim to provide comprehensive financial solutions that foster cross-border collaboration and long-term economic partnerships.
What specific markets and sectors across the Middle East and Africa are you prioritising, and what is your outlook on the region’s investment landscape?
Two key structural changes stand out in the Gulf’s investment landscape. First, Gulf sovereign wealth funds have significantly increased allocations to China and the broader Asia-Pacific region, investing $9.5bn into China in the year ending September 2024. This reflects a diversification strategy amid global uncertainty and the pursuit of higher growth.
Second, the Gulf is emerging as a preferred destination for Chinese companies seeking global expansion. China’s strengths in manufacturing, infrastructure, the digital economy, and innovation align well with Gulf diversification goals.
Looking ahead, we are highly optimistic about the region’s trajectory. Its strategic location, professional economic management, and proactive government policies create a dynamic, business-friendly environment ripe with investment opportunities.
What core services will the Dubai office offer, and who are your primary target clients — sovereign wealth funds, corporates, or family offices?
CICC has been approved by the Dubai Financial Services Authority (DFSA) for a Type 4 license, enabling us to provide arranging and advisory services within the DIFC.
Our offerings are tailored exclusively for institutional clients, including sovereign wealth funds, governments, SOEs, private corporations, financial institutions, and accredited family offices.
We aim to serve as a trusted financial bridge between China and the Gulf, delivering investment, advisory, and financing solutions that address the evolving needs of our clients on both sides of the corridor.
How will CICC facilitate cross-border investment flows between China and the Middle East, and what role will the firm play in supporting initiatives like the Belt and Road?
The Gulf is known for its appetite for high-value, strategic transactions — often exceeding global deal sizes. CICC is uniquely positioned to facilitate these cross-border flows, thanks to our deep market expertise in China, established client relationships, and regional insight.
We also play an active role in the evolution of the Belt and Road Initiative (BRI), identifying emerging opportunities and supporting our clients in navigating these investments. CICC strives to foster strategic partnerships that drive sustainable, long-term growth between China and the Gulf.
What are your short- and long-term goals for the DIFC office, and how do you define success for CICC in the region?
Our short-term goal — becoming the first China specialist investment bank with a presence in the Gulf — has been achieved. The next phase is to leverage our platform to deliver China-based solutions to regional clients and execute larger, high-impact transactions across capital markets, private markets, and strategic advisory.
In the long term, we aim to cultivate a dynamic financial ecosystem that enables Chinese and Gulf players to form strategic partnerships and engage in sustained capital flows.
Success for us means becoming the trusted China-focused financial partner for regional governments, SOEs, institutions, sovereign funds, corporates, and family offices — driving mutual growth through well-structured, long-term solutions.
