China Construction Bank lists 600 mln USD bond on Nasdaq Dubai
Xinhua, October 4, 2016 Adjust font size:
China's second largest lender in terms of assets China Construction Bank (CCB) has listed a bond of 600 million U.S. dollars on Nasdaq Dubai, the exchange said Tuesday.
The listing was conducted by CCB's Hong Kong branch, Nasdaq Dubai said in a statement.
CCB is the fourth Chinese bank to list a bond on the exchange since 2014, underlining the expanding capital market and economic ties between the United Arab Emirates (UAE) and China.
Earlier last week, Ahmad Muhamed bin Ghannam, Acting Executive Director of the International Economic Relations Sector at Abu Dhabi Department of Economic Development said "our vision to reach bilateral trade worth 100 billion dollars in the near future is not far-fetched."
Trade between the UAE and China is expected to hit 60 billion dollars by the end of 2016, up from 54.8 billion dollars in 2014.
According to the exchange, CCB's listing raised the total value of the conventional bonds listed on Nasdaq Dubai to 11.39 billion dollars.
The four largest Chinese banks all have branches in the Dubai International Financial Center (DIFC), the biggest financial free zone in the Middle East.
According to the DIFC Authority CEO Arif Amiri, two more Chinese lenders are in the process of setting up branches in the DIFC. Endit