logo
TRENDS hosts symposium exploring prospects for China-Middle East relations

TRENDS hosts symposium exploring prospects for China-Middle East relations

Al Etihad20-06-2025
20 June 2025 10:45
ABU DHABI (ALETIHAD) TRENDS Research & Advisory, through its Virtual Office in China, kicked off its participation in the 31st edition of the Beijing International Book Fair 2025 by organising a research symposium titled 'Prospects for China–Middle East Relations in Light of Global Transformations', held at the centre's booth at the China National Convention Centre.Participants in the seminar—moderated by Farida Bai Yi Nan, Head of the Arabic Language Department at China Today magazine—discussed the role of the Belt and Road Initiative in enhancing Arab–Chinese economic integration, the opportunities and domains of cultural and educational cooperation between China and Arab countries, China's position on key Middle Eastern issues, and how Chinese intellectual elites perceive partnerships with Gulf and Arab states.Hu Jiyuan, a researcher at the Centre for Arab Studies at Zhejiang International Studies University, emphasised that cultural cooperation is a vital component in China–Arab relations. She noted that the exchange of knowledge and culture between China and Arab nations has reached a solid level. For example, over 48 universities in China teach the Arabic language, and enthusiasm for learning Chinese is rising across the Arab world. The UAE and Saudi Arabia have both incorporated Chinese into their national education curricula, and there are currently more than 20 Confucius Institutes across the Middle East.Abdulaziz Al Shehhi, Senior Researcher and Deputy Head of the Scientific Research Sector at TRENDS, stated that China–Arab relations represent a unique model of civilisational interaction, merging the authenticity of tradition with future aspirations for prosperity. What unites Arab nations and China, he said, is a shared vision for a prosperous future that does not come at the expense of history or cultural identity.Al Shehhi added that recent years have witnessed significant developments in bilateral relations—not only in trade but also in deep cultural and educational cooperation, which serves as the cornerstone of building bridges of mutual understanding between peoples.He pointed out that it is impossible to speak of Sino–Arab cooperation without mentioning the UAE model, as the UAE is not only China's top trading partner in the Middle East and North Africa, but also the most advanced in cultural collaboration. The UAE has announced investments totaling $10 billion in joint cultural and educational projects with China over the next ten years.Yang Yuxin, a researcher at the Institute of African Studies at Zhejiang Normal University, explained that both the UAE and China are committed to playing positive roles in achieving peace and defusing regional and global conflicts—especially in the Middle East, a region of central importance to the entire world.
Yang added that China is the top trading partner of the UAE, while the UAE is the largest market for Chinese exports and a key investment destination for China in the Middle East. In recent years, cooperation in renewable energy, photovoltaic power plants, and wind energy has witnessed significant growth. The UAE is also the primary destination for Chinese tourists in the region, with more than one million tourists last year, alongside over 100 Chinese schools in the UAE—further enhancing educational and cultural exchange.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Tech Titans Seek Offshore Yuan Stablecoin Approval
Tech Titans Seek Offshore Yuan Stablecoin Approval

Arabian Post

timean hour ago

  • Arabian Post

Tech Titans Seek Offshore Yuan Stablecoin Approval

JD. com and Ant Group have formally submitted proposals to the People's Bank of China seeking approval for yuan-pegged stablecoin issuance, marking a key step in Beijing's efforts to internationalise its currency. Ant Group is also preparing licence applications in Hong Kong and Singapore to deploy offshore renminbi stablecoins beyond mainland China. The push comes after the Hong Kong legislature enacted a stablecoin licensing framework on 21 May 2025, with regulations taking effect from August. Under the new rules, issuers of Hong Kong dollar–referenced digital tokens must secure authorisation from the Hong Kong Monetary Authority. JD. com has suggested beginning issuance in Hong Kong before piloting operations in Chinese free-trade zones—a phased approach that has been met with encouraging feedback from regulators. The strategic backdrop for this development includes a decline in the yuan's share of global payments to 2.89% in May—the lowest in nearly two years—while dollar-pegged stablecoins control approximately 99% of the market. Former Bank of China deputy head Wang Yongli cautioned that unless yuan-based solutions gain traction, China could risk lagging behind if cross-border payments remain less efficient than dollar-denominated cryptocurrency options. ADVERTISEMENT Ant Group's global strategy is already in motion. Ant International aims to apply for licences under the new Hong Kong regime from 1 August, and then proceed to Singapore and Luxembourg. Meanwhile, JD. com intends to seek approvals in multiple major currency jurisdictions, citing ambitions to reduce cross-border settlement costs by up to 90% and speed up transaction times to under 10 seconds. Hong Kong's stablecoin ordinance emphasizes reserve management, redemptions and robust risk controls, operating on the principle of 'same activity, same risks, same regulation'. The region's new LEAP framework is designed to nurture asset tokenisation and stablecoin issuance, compelling global players to participate. Remaining constraints on audience trust and onshore–offshore integration persist. China's strict capital controls may hinder scalable adoption of offshore yuan stablecoins, and questions remain over transparency in reserve backing, redemption mechanisms, and potential surveillance—echoing critiques levelled against e‑CNY, China's domestic central bank digital currency. Nonetheless, analysts argue that successfully launching an offshore yuan stablecoin could enhance digital renminbi's global footprint without conflicting with mainland crypto restrictions. It would offer exporters an alternative to dollar-linked tokens and deepen the yuan's digital payment infrastructure. President Trump's support for dollar-pegged stablecoin regulation in the United States has accelerated momentum overseas. China's tech giants appear intent on ensuring the yuan remains a competitive currency in the next-generation digital economy. Key stakeholders, including Morgan Stanley and Crypto HK, suggest that Hong Kong could function as a vital testbed, providing a bridge between mainland policy and the global crypto market. With licence windows opening this August and multi-jurisdictional applications in progress, the ball is now in the court of global financial regulators. Approval of these proposals could mark a significant shift in digital finance, elevating the yuan's status in the evolving ecosystem of global trade and finance.

Chinese FTX Users Face Sharp Losses Under New Claims Policy
Chinese FTX Users Face Sharp Losses Under New Claims Policy

Arabian Post

timean hour ago

  • Arabian Post

Chinese FTX Users Face Sharp Losses Under New Claims Policy

Court filings in the Chapter 11 case for collapsed exchange FTX suggest that users in 49 jurisdictions may see their claims disputed or denied over local crypto restrictions. A filing submitted on 2 July to the Delaware bankruptcy court outlines a new 'hold‑and‑review' process, halting distributions to users in areas with bans on crypto trading or restrictions on offshore platforms. FTX's trustee, along with legal counsel, will evaluate whether paying out creditors in these jurisdictions violates local laws. Notices will then be issued to affected users, granting them at least 45 days to challenge their classification. Absent a timely response, claims and any accrued interest will be forfeited to the estate. Although users in these 49 jurisdictions represent just 5% of approved claims, the financial exposure is heavily weighted. Over 82% of that total value originates from mainland China. China accounts for the vast majority of claims in what FTX labels 'potentially restricted jurisdictions'. Advocates warn that most Chinese claimants may not recover any funds. ADVERTISEMENT FTX's court motion says it will seek legal opinions for each jurisdiction before approving any payout. If counsel concludes local law prohibits the disbursement, those claims will be formally challenged. The legal framework treats such claims as 'disputed,' pending approval or denial of their status. Distributions will be suspended until those claims are resolved. Affected users must submit sworn statements confirming acceptance of US court jurisdiction to pursue objections. Upon objection, the trustee will petition the court to determine if exclusion is justified. Lack of objection will result in automatic forfeiture. The list of 49 jurisdictions includes not only China, but also countries such as Nigeria, Russia, Egypt, Saudi Arabia, Andorra, Fiji and Zimbabwe. That breadth reflects the wide global footprint of FTX prior to its collapse. Chinese users have responded with alarm, exploring legal avenues in the US. One affected claimant, identified as 'Will,' told media that though the crypto ban in mainland China prevents trading, holdings remain legal and ownership rights should entitle them to fiat reimbursement in US dollars. He has engaged a New York attorney to counter FTX's position on wire transfers and jurisdictional exclusion. Some creditors are studying whether to transfer or sell their claims through entities in compliant jurisdictions, though it remains unclear whether such mechanisms will resolve legal barriers. FTX Recovery Trust reported an overall decline in disputed claims—from US $6.5 billion to US $4.6 billion—after approving $1.8 billion in claims and expecting another $2.7 billion to be cleared. Approved claim distributions have reached approximately $8.3 billion. This new policy specifically targets the subset linked to restricted jurs, leaving billions in limbo. Legal experts suggest the court's decision could set precedent for how bankruptcy courts manage cross‑border crypto claims when local compliance is at risk. FTX is therefore seeking judicial approval to formalise this tailored procedure. Critics argue the move undermines proportional equity. Victims from major markets like China, Nigeria and Egypt, who collectively hold substantial unrationalised stakes, now face potential complete exclusion. These developments raise concerns about transparency and fairness in the global recovery process. FTX's reorganisation plan approved in October 2024 allows repayment of up to US $16.5 billion to customers. It prioritises accounts holding US $50,000 or less under the terms of the Chapter 11 order, but regional legal hurdles may override the general scheme. Trustee Sunil Kavuri summarised that each claim will proceed only with a supportive local legal opinion. If the opinion concludes a payout contravenes domestic laws, the claim will be formally disputed and may be permanently disallowed.

Modon sells out Wadeem plots on Hudayriyat Island in 72 Hours
Modon sells out Wadeem plots on Hudayriyat Island in 72 Hours

Al Etihad

timean hour ago

  • Al Etihad

Modon sells out Wadeem plots on Hudayriyat Island in 72 Hours

4 July 2025 11:44 ABU DHABI (ALETIHAD)Modon has announced the complete sell-out of Wadeem, the first residential land plots on Hudayriyat Island, within just 72 hours of launch, generating sales of Dh5.5 billion. 'The strong performance makes Wadeem the highest-valued real estate release in Abu Dhabi so far this year,' a statement from Modon said. Located opposite the prestigious Al Bateen area, Wadeem is the first residential land offering on Hudayriyat Island. The swift sell-out underscores rising investor confidence in the capital's real estate sector.'As demand for high-quality real estate in prime locations grows, Modon continues to strengthen its position as a trusted name in shaping vibrant, people-centric destinations,' said Bill O'Regan, Group CEO of Modon Holding. 'The strong interest in Wadeem is testament to individual and investor confidence in our capabilities in delivering exceptional residential communities.'Ibrahim Al Maghribi, CEO of Modon Real Estate, added: 'The response to Wadeem and the value of sales generated are an outstanding achievement, representing a significant milestone in realising Modon's vision for Hudayriyat Island. The launch reinforces Hudayriyat's position among Abu Dhabi's most desirable residential destinations.'Wadeem offers buyers the opportunity to design and build customised four- to six-bedroom villas, with space for swimming pools, outdoor entertainment areas, and sweeping views of Abu Dhabi's skyline. 'Homes in the community – just a stone's throw from Hudayriyat Island's idyllic coastline – will each offer owners the chance to enjoy stunning views of Abu Dhabi's impressive skyline, as well as easy access to the island's many pristine beaches and the azure waters of the Gulf,' the statement said. The plots are set within a masterplanned community connected by green walkways and cycling paths, and will feature a central park, shopping outlets, a private school, a mosque, and recreational amenities including jogging tracks, sports courts, and yoga zones. Modon is a listed company on the Abu Dhabi Securities Exchange (ADX) with a market capitalisation of Dh57.05 billion. Abu Dhabi Developmental Company (ADQ) and International Holding Company (IHC) are among its main shareholders.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store