Guangdong Governor Meets Ras Al Khaimah Ruler to Deepen China-UAE Ties

On November 21, 2024, Wang Weizhong, Governor of Guangdong province, met in Guangzhou with a delegation led by Sheikh Saud bin Saqr Al Qasimi, member of the UAE Supreme Council and ruler of Ras Al Khaimah. Marking the 40th anniversary of China-UAE diplomatic ties, Wang highlighted that the UAE is Guangdong's largest trading partner in the Middle East and its leading Middle Eastern investor.

Wang encouraged UAE enterprises to invest in Guangdong and the Guangdong-Hong Kong-Macao Greater Bay Area, citing emerging sectors including next-generation information technology, high-end equipment manufacturing, new energy, and the low-altitude economy. He emphasized utilizing the newly established memorandum of understanding (MoU) to advance pragmatic cooperation in the digital economy, advanced manufacturing, biomedicine, education, and cultural tourism.

Sheikh Saud outlined Ras Al Khaimah's economic and social progress, noting the complementary advantages between the two regions. He expressed a desire to expand cooperation in trade, investment, digital economy, technological innovation, advanced manufacturing, smart cities, education, and cultural tourism, and invited Guangdong enterprises to invest in Ras Al Khaimah. Following the talks, both leaders witnessed the signing of an MoU on fostering exchanges and cooperation.

Additionally, the report noted that major Chinese financial institutions have expanded syndicated debt provision for prominent Gulf energy operators. In the UAE, three Chinese lenders participated in a banking consortium providing up to $11 billion in financing for ADNOC's offshore gas development project.