China

Industry News

Hong Kong Financial Secretary Visits Qatar to Deepen Gulf Financial and Trade Cooperation

Hong Kong Financial Secretary Paul Chan arrived in Doha to advance economic, trade, and financial cooperation between mainland China, Hong Kong, and the Gulf region. During the visit, Chan met with Asian Infrastructure Investment Bank President Zou Jiayi and Qatari Finance Minister Ali bin Ahmed Al Kuwari. Discussions centered on green finance, catastrophe bond issuance, bilateral investment, and Belt and Road initiatives.

Industry News

Saudi Arabia Qualifies 13 Firms Including UAE and Chinese Entities for Gas IPPs

Saudi Power Procurement Company (SPPC) has qualified 13 companies to bid for the third round of the kingdom's combined-cycle gas turbine independent power producer programme. The qualified pool features regional and international developers, including UAE-based Taqa and Etihad Development Company alongside China's PowerChina. The projects will be executed under a build-own-operate model with provision for future carbon capture readiness.

China–UAE News

Mastercard Targets Processing Nearly All UAE Debit Payments Under Sovereign Scheme

Mastercard Chief Financial Officer Ling Hai stated that the company expects to process nearly 100% of UAE debit transactions once its partnership with Al Etihad Payments is fully implemented. The project positions Mastercard as the underlying switching and processing technology provider for the UAE's national card switch and domestic Jaywan scheme. Concurrently, China's UnionPay International is expanding its own partnership with Al Etihad Payments to accept Jaywan cards across its network.

China–UAE News

Mastercard Targets Near-100% UAE Debit Processing as Domestic Payment Infrastructure Expands

Mastercard Chief Financial Officer Ling Hai stated that the company expects to process nearly 100% of debit transactions in the UAE once its rollout with Al Etihad Payments is complete. Speaking at a Goldman Sachs event, Hai pointed to the UAE partnership as a strategic model for navigating national sovereignty payment initiatives, alongside references to operations in China. The UAE's domestic payments entity is also expanding cross-border acceptance and co-branded card ties with China's UnionPay International.