April 18, 2024

Zhongguancun Private Equity & Venture Capital Association and China Innovation Centre in UAE Forge Strategic Partnership for Enhanced Sino-Arab Cooperation

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• The Zhongguancun Private Equity & Venture Capital Association, a key player in China's investment landscape, spearheads initiatives to foster innovation and entrepreneurship through strategic investment partnerships

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• China Innovation Centre in UAE serves as a catalyst for Sino-Arab collaboration, facilitating exchanges and cooperation in diverse sectors such as industry, trade, and technology

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• Through the newly formed partnership, both entities aim to create a dynamic platform for enterprises from China and the UAE to explore investment opportunities, exchange expertise, and drive mutual growth

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Dubai UAE, April 18, 2024 - During a signing ceremony held in Dubai, Hamdan Doleh, Chairman of the China Innovation Centre in the UAE (CIC), and Wang Shaojie, President of the Zhongguancun Private Equity & Venture Capital Association (ZVCA), jointly signed a significant cooperation agreement. This collaboration aims to enhance exchanges and cooperation between enterprises and institutions in both regions, while deepening cooperation and development in sectors such as industry, economy, trade, science, research, and innovation.

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During the discussions, Hamdan Doleh emphasised the complementary nature of the economic sectors between China and the UAE. He proposed that by establishing closer cooperation, both sides could better align market and technological demands, thereby fostering mutual development. Wang Shaojie stated that the ZVCA would actively leverage its strengths in technology innovation and capital markets to support the cooperation between the two parties.

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According to the agreement, both parties will periodically organise industrial investment conferences, product seminars, and technical exchange meetings to promote exchanges and cooperation between enterprises in both regions. Additionally, they will collaboratively create a comprehensive trade, investment, and innovation cooperation service platform, offering comprehensive assistance and support for businesses from both regions investing and starting businesses in each other's markets.

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Furthermore, both parties plan to establish a network of entrepreneurs from China and the UAE, facilitating more effective exchanges and cooperation among entrepreneurs and the sharing of market information and business opportunities. This initiative is expected to further promote the deep integration of economies in both regions and bring more growth opportunities to businesses on both sides.

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At the signing ceremony, representatives from both sides expressed their anticipation for future exploration of more cooperation opportunities and the advancement of Sino-Arab cooperation to higher and deeper levels through continued collaboration and exchanges.

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This year signifies the beginning of the second decade since the inception of the "Belt and Road" initiative.

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Under the guidance of the Sheikh of Dubai, Dubai Chambers was established in 1965 as a governmental organisation. Its mission is to support and safeguard the interests of Dubai's business groups, with the goal of transforming Dubai into the most internationally oriented business hub by fostering a favourable business environment. In 2022, His Highness Sheikh Hamdan, the Crown Prince of Dubai, officially inaugurated the "Dubai Global Plan." Subsequently, in 2023, the China Innovation Centre at Dubai Chambers was formally introduced, becoming a pivotal component of the Dubai Global Plan. This centre is committed to forging a new era of technological and economic collaboration between China and Dubai.

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Dubai's world-class logistics infrastructure and strategic location along the New Silk Road ensure easy access to markets in Asia, Africa and the Middle East. China Innovation Centre in UAE focuses on creating a top-tier service platform for Chinese enterprises to venture abroad, offering professional services such as trade procurement, investment and financing, promotion and exchange as well as data research.

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This initiative serves as a showcase for technology-driven and innovative Chinese enterprises in the GCC region, providing a one-stop comprehensive array of services ranging from product exhibition, business promotion, government advocacy, media coverage, and corporate financing for distinctive industrial clusters, business associations, as well as other representative firms from various provinces and cities throughout China.

 

Zhongguancun Private Equity & Venture Capital Association (ZVCA) is a nationwide private equity investment association which has been legally registered at civil affairs department of China. It has renowned institution members including Sequoia Capital, Tianxing Capital, Qianhai FOF, Innoangel Fund, Cowin Capital, Softbank China Venture Capital (SBCVC), Ivy Capital and Shenzhen Capital Group; and a great number of listed company members such as Tasly Holding Group, VIE Science & Technology, Beijing Health (Holdings), Far East Holding Group, TBEA, Haomei New Materials, Guangdong Life Strong Pharmaceutical Co., Ltd, and also many members which are well-known large enterprise groups, like New Hope Group, Fuwah International Group, Kintig Group, Xing Pai Group, Guorui Real Estate and Xinyuan Group, as well as large financial groups mumbers, for instance, Minsheng Securities, Pacific Securities, China Galaxy, Harbin Bank and Yillion Bank. ZVCA also has members of large enterprise investment groups, such as China Reform Holdings, China Chengtong Group and Yueda Group. The total amount of funds managed by members of ZVCA is more than RMB 3 trillion (US$ 500billion). In light of Zhongguancun’s innovative and pioneering spirit, and in collaboration with various think-tanks in Beijing, ZVCA organizes dozens of overseas business delegations as well as domestic and international investment and financing docking events every year.

 

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Media Contact:

For further information or media enquiries please contact:

info@chinainnovationcentre.com

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