Central Bank of the UAE Governor Khaled Mohamed Balama met with People's Bank of China Governor Pan Gongsheng in Bangkok on October 14, 2026. The bilateral discussions focused on central banking cooperation, financial infrastructure links, and cross-border capital flows. Officials noted that bilateral non-oil merchandise trade reached AED 410 billion in 2025.
Gulf Cooperation Council Secretary-General Jasem Al-Budaiwi called for concrete progress in cross-border banking cooperation between the GCC and China. The remarks were made during a Bangkok meeting between GCC central bank governors and People's Bank of China Governor Pan Gongsheng. The discussions aimed at linking financial markets, supporting trade facilitation, and maintaining monetary stability.
Gold prices moved higher as declining crude oil prices eased inflation worries and spurred hopes of a pause in US Federal Reserve interest rate hikes. In the UAE, retail gold prices held firm with 24-karat trading at Dh505.50, while China's central bank accelerated gold purchases alongside inflows into gold-backed ETFs.
Shipping risks in the Middle East and rising demand for artificial intelligence infrastructure are reshaping trade finance corridors between the Gulf and China. Bankers report credit facility expansions to cover longer transit times, while IMF leadership warns of persistently elevated energy prices.
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