|
DUBAI, Oct. 22 (Xinhua) -- Rashed Al-Blooshi, the chief executive of the Abu Dhabi Securities Exchange (ADX), said on Saturday that he urged Chinese investors to seize the investment opportunities available on the exchange in the United Arab Emirates (UAE), Emirati state news agency WAM reported.
Al-Blooshi participated at the Fujian Investment Forum and Chongqing Investment Forum earlier in the week.
Together with the Abu Dhabi financial free zone Abu Dhabi Global Market (ADGM), the ADX said they concluded a "week-long of visit and business discussions with key officials in Fujian and Chongqing Provinces in China."
On the ADX, Al-Blooshi said 62 out of 66 listed companies are open to foreign investors, which reflects the high level of foreign investments flowing to the exchange particularly after MSCI upgraded ADX emerging market status back in mid-2013.
As for Chinese investment in the ADX, Al-Blooshi stated that by end of the third quarter 2016, ADX have 258 registered Chinese investors among whom 16 are institutions.
The total trading value of Chinese investors represented around 10 percent of the total trading value of Asian investors in 2015, while in 2014 around 7.2 percent, Al-Blooshi said.
With regard to net investment, Chinese investors represented around nine percent of the net investment of Asian investors. The market value of shares owned by Chinese investors at the ADX reached 28.61 million dollars at end of the third quarter 2016, an increase of 9.3 percent compared to the end of 2015.
Al-Blooshi also highlighted the solid economic relations with China, which the UAE considers its second largest trading partner.
"Abu Dhabi, with its well-regulated legal environment and advanced infrastructure links, is supported by a significant economic performance for the Emirate as well as the UAE," WAM quoted Al-Blooshi as saying.
According to the Abu Dhabi Department of Economic Development, Abu Dhabi has strengthened the economic partnership with China as the trade co-operation in the non-oil sector between China and Abu Dhabi reached 1.79 billion dollars in the first half of 2016, compared to 1.14 billion dollars in the first half of the year 2015, at a growth rate of 57 percent," he added.
"Trade volume between the two countries reached 54.8 billion dollars in 2015, while the non-oil foreign trade, including free trade zones, has reached 47.5 billion dollars. The number of Chinese companies operating in the country stood at 4,000 while there were 278 trade agencies," said the ADX CEO.
Business ties between China and the UAE are expected to get a boost as the latter decided to grant Chinese nationals visa on arrival, he added.
