Latest news with #QingdaoOverseasIntegratedServiceCentre
CairoScene
2 hours ago
- Business
- CairoScene
UAE & China Launch Qingdao Service Centre to Deepen $400B Trade Ties
Launched at the China-Arab Business Forum, the Qingdao Overseas Integrated Service Centre will support businesses from the UAE, China, and the wider Arab region. Jun 30, 2025 The UAE and China have inaugurated the Qingdao Overseas Integrated Service Centre (QOISC) during the China-Arab Business Forum in Qingdao. Co-founded by SEPCOIII Electric Power Construction and Hisense Group, the centre is intended to strengthen economic collaboration by offering trade facilitation, investment support, and cultural exchange services for UAE and Arab enterprises in China. China-Arab commerce surpassed US $400 billion in 2024, a tenfold increase from two decades ago. The forum included the signing of 40 major business deals - worth approximately US $5.93 billion - spanning high-end equipment, new energy, advanced materials, and next-generation tech. The QOISC is positioned as a bridge between public and private sectors, aiming to accelerate trade, investment, tourism, and cultural collaboration across the region. Looking ahead, the centre plans to support international exhibitions, industrial park development, and procurement matching, using the UAE as a regional hub. The move aligns with broader efforts to deepen cooperation in infrastructure, green energy, digital technologies, and aligns with China's Belt and Road Initiative.
Arabian Post
7 hours ago
- Business
- Arabian Post
China–UAE Centre to Supercharge Gulf–China Trade
Arabian Post Staff -Dubai A new Qingdao Overseas Integrated Service Centre launched at the China‑Arab Business Forum in Qingdao is set to deepen commercial ties between China and the Gulf region by enhancing the current $400 billion trade corridor. Abdulla Albasha Alnoaimi, UAE commercial attaché to China, and Zeng Zanrong, Qingdao's municipal party secretary, formally unveiled the centre, established by SepcoIII Electric Power Construction Co and Hisense Group. Drawing on their extensive foothold in the UAE and the broader Middle East, the centre is intended to act as a bridge to support Chinese firms entering Arab markets. ADVERTISEMENT At the forum, 40 projects worth $5.93 billion were signed, spanning high‑end equipment, new energy, advanced materials and next‑generation information technology. These agreements signal a deliberate shift towards elevating the technological content and sophistication of trade between the regions. Bilateral trade between China and Arab countries reached more than $400 billion in 2024, compared to just $36.7 billion in 2004, marking a ten‑fold rise over two decades. Saudi Arabia and the UAE led these exchanges, recording $107.53 billion and $101.838 billion respectively in 2024, with the latter growing by 7.2 per cent year‑on‑year. Mohammed Saqib, secretary‑general of the CHIMENA Business Council, emphasised the centre's role in aligning public and private sectors to drive economic cooperation, cultural exchange and joint investment initiatives. He noted it will act through mechanisms such as overseas industrial parks, procurement matching and international exhibitions. China's expansion into the Gulf forms part of its broader geopolitical strategy to diversify trade alliances and reduce dependency on Western markets, especially the US. Chinese firms are now deeply involved in infrastructure development across the MENA region, including ports, industrial zones, and renewable energy projects. The forum drew 465 multinational firms, including 135 from the Fortune Global 500 and 330 leading industry enterprises across 43 countries. Three focused matchmaking sessions brought together over 300 Chinese companies with counterparts in Egypt, the UAE and Saudi Arabia. Co‑hosts of the event included the Qingdao municipal government, China's Ministry of Commerce and the Shandong provincial department of commerce, signalling full institutional support and coordination. With its strategic location in the UAE, the centre is expected to catalyse an export‑oriented alliance, supporting Chinese firms in sectors such as energy, manufacturing and new materials, as well as bolstering the implementation of the Belt and Road Initiative across Gulf markets. This initiative aligns with a historical trajectory of Sino‑Arab exchange, tracing back over two millennia via the Silk Route. Contemporary developments reflect a sharpened focus on innovation‑driven partnerships. The unfolding dynamics underscore a growing economic interdependence between China and Gulf states. The QOISC adds an institutional anchor to sustain momentum, foster deeper investment flows, and integrate advanced technology and green energy into bilateral commerce. However, observers caution China must continue to navigate geopolitical sensitivities, particularly in managing strategic competition with the US and ensuring sustainable and balanced partnerships that benefit local economies.
Khaleej Times
a day ago
- Business
- Khaleej Times
UAE and China launch Qingdao Overseas Integrated Service Centre
The UAE and China recently launched Qingdao Overseas Integrated Service Centre at the China-Arab Business Forum held in Qingdao recently – that is aimed at increasing the $400 billion trade between China and the Arab world. Abdulla Albasha Alnoaimi, UAE Commercial Attaché to China and Zeng Zanrong, Member of the Standing Committee of the Shandong Provincial Party Committee and Secretary of the Qingdao Municipal Party Committee of the Chinese Communist Party, unveiled the Qingdao Overseas Integrated Service Centre (QOISC) at the China-Arab Business Forum held in Qingdao recently. Organised by the Qingdao Municipal People's Government and China India Middle East and North Africa (Chimena) Business Council, the China-Arab Business Forum was co-hosted by the Ministry of Commerce of China and the Shandong Provincial Department of Commerce. A total of 40 important projects were signed during the China-Arab Business Forum, with a total value of $5.93 billion, covering industries such as high-end equipment, new energy and new materials, and next-generation information technology. The launch of the QOISC comes six months after two-way trade between China and Arab countries seen a substantial increase, exceeding $400 billion in 2024, according to the London-based International Finance magazine. This represents a more than ten-fold increase from $36.7 billion in 2004. More than 15,500 Chinese companies have invested more than US$6 billion in the UAE, according to UAE Ministry of Economy. This QOISC was established by the SEPCOIII Electric Power Construction Co Ltd and Hisense Group. Leveraging the two companies' long-standing presence and influence in the UAE and other Middle Eastern countries, the Centre aims to serve as a new bridge for China-Arab economic and trade cooperation and to better support the overseas development of enterprises. 'The launch of the Qingdao Overseas Integrated Service Centre (QOISC) is a significant move that will play a significant role in accelerating the $400 billion trade between the two growing economic blocks,' Mohammed Saqib, Secretary-General of Chimena Business Council says. 'The QOISC combines the strength of the public and private sector to push for greater economic cooperation that will bring not only the businesses, but also the peoples of these regions closer through trade, tourism and cultural cooperation.' Using the UAE as a hub, the QOISC will accelerate the formation of an export-oriented alliance targeting regional markets, he said. 'It will actively engage in activities such as overseas industrial parks, international exhibitions, and procurement resource matching, linking business opportunities, optimising resources, and fostering coordinated development. This will further contribute to deepening trade and investment partnerships and to jointly building the Belt and Road Initiative,' he added. Trade between China and Arab countries has a long history, dating back over 2,000 years, with China being an important trading destination for the Arab world since the Islamic caliphate later through the Silk Route that connected China with the Arab World. Saudi Arabia is a key trading partner for China, with a bilateral trade volume of $107.53 billion in 2024, while trade between China and the UAE reached $101.838 billion, a 7.2 per cent increase year-on-year, demonstrating resilience in trade despite global economic fluctuations. China's engagement with Arab states is viewed as a strategic move to diversify partnerships and reduce reliance on any single power, particularly the United States. Chinese companies are increasingly involved in various sectors in Arab countries, including energy, infrastructure, manufacturing, and new energy. Chinese companies are participating in infrastructure projects like ports and industrial zones, contributing to the development of trade hubs in the region. The China-Arab Business Forum was held at the Qingdao International Conference Centre where senior government and private sector leaders including Mohamed Abou El Enein; Deputy Speaker of the Egyptian House of Representatives and Chairman of Cleopatra Group; Zeng Zanrong; Wang Lei, Director of the Shandong Provincial Department of Commerce; Wang Bo, Member of the Standing Committee and Vice Mayor of Qingdao and Mohammed Saqib, Secretary-General of the China India Middle East and North Africa (CHIMENA) Business Council spoke on strengthening investment, trade and greater economic cooperation. With a theme – Innovation-Driven, Mutually Beneficial: Promoting China-Arab Economic and Trade Cooperation to New Heights – the China-Arab Business Forum was participated by 465 multinational companies, including 135 Fortune Global 500 companies and 330 industry-leading enterprises from 43 countries. Of these, 417 were foreign multinational corporations. Three focused match-making meetings were also held on the sidelines of the China-Arab Business Forum. More than 300 Chinese companies participated in the match-making sessions with companies from Egypt, UAE and Saudi Arabia. Chimena Business Council aims to foster cooperation and understanding between China, India and the Mena regions. It brings together businesses, professionals, artists, associations, academics and cultural enthusiasts to promote economic, social, cultural and academic exchanges. Chimena provides a platform for networking, knowledge exchange and partnership building in the business and academic communities, enabling its members to benefit from each other's expertise and experience.
