President Xi Jinping emphasized that China will
pursue a mutually beneficial strategy and promote high-level opening-up,
advancing high-quality development of the “Belt and Road” initiative, to create
new opportunities for Arab states and all other countries with China’s new
development. In less than a year of dedicated efforts and adherence to
long-termism and mutual benefit, TF International Securities Group Limited
(hereinafter referred to as “TF International”) has achieved significant
progress in its Middle Eastern business. On May 13, Riyadh local time, acting
as the Middle East advisor for China Zheshang Bank (CZBANK), TF International
facilitated and witnessed the signing of a memorandum of understanding between
CZBANK and the Ministry of Investment of Saudi Arabia (MISA). This milestone
makes CZBANK the first and currently the only Chinese joint-stock commercial bank
to sign a memorandum of understanding (MOU) with MISA. The MOU provides a clear
framework and explicit guidance for future cooperation between the two parties
in the fields of finance and industry, and also demonstrates TF International’s
planning, organization, and execution capabilities as an international Chinese
securities firm, effectively promoting economic and trade cooperation between
China and the Middle East.
On the day of the signing, CZBANK President
Zhang Rongsen and his delegation visited the MISA. After comprehensive and
in-depth discussions, both parties successfully signed the memorandum of
understanding. Deputy Minister Saleh Al-Khabti and Assistant Deputy Minister
Fahad Mansour AlHashem, and other representatives of the Saudi Investment
Department attended the meeting. Deputy Minister Saleh warmly welcomed
President Zhang’s delegation and briefed them on the department’s recent
investment progress. President Zhang Rongsen stated that CZBANK, as a national
joint-stock commercial bank, is committed to fully embracing and implementing
China’s Belt and Road initiative and actively exploring viable paths for
offering financial services in the Middle East. The two sides exchanged views
candidly on issues of mutual concern.
Promoting Chinese Enterprises
in the Middle
East:
“wind chain project” Continues to
Expand into International Markets
As a core overseas financial service institution
owned by the province, TF International continues to efficiently and steadily
advance its Middle East strategy. It aims to combine the world’s most
competitive supply chain system with the region’s most promising growth
capital. The Middle East, with its abundant resource endowments and rapidly
growing market potential, has become an important destination and transit point
for Chinese enterprises to “go global”, as well as a key force in “brining in”
high-quality capital. According to TF International CEO Zou Chuan, China
possesses the world’s most complete, diverse, and creative supply chain system,
while the Middle East is currently a hotbed for long-term industrial capital
resources. The establishment of closer economic and trade partnerships between
the two sides will create immense opportunities and achieve sustainable
economic development.
From May 6 to 13, TF International efficiently
introduced significant resources from the Middle East to CZBANK. During the
recently concluded 13th Annual Investment Meeting (AIM) in the UAE, TF
International, serving as CZBANK’s Middle East advisor, actively facilitated
connections and carefully organized events over more than a week, including arranging
visits to several national investment departments, prominent local sovereign
funds, and major financial institutions in the Middle East, laying a solid foundation
for future cooperation. In Sharjah, discussions were held with relevant
authorities of the Sharjah Emirate regarding collaboration on projects such as panda
bonds. In Abu Dhabi, financial growth opportunities between China and Saudi
Arabia were explored with the Abu Dhabi Investment Authority and Abu Dhabi
Global Market, among other national financial institutions. In Dubai, paths for
mutual development were discussed with key governmental and private capital
institutions, including Emirates Investment Bank (EIB), Mashreq Bank, and Dubai
International Financial Centre (DIFC). In Riyadh, collaborative prospects were
explored with the Chief Investment Officer of Ajlan & Bros Holding and the
management team of NEOM, Saudi Arabia’s new future city.
Leveraging its extensive industry network and
international footprint, TF International not only provides robust,
comprehensive financial services to support multi-dimensional communication
platforms between Chinese enterprises and Middle Eastern partners but also
establishes a vital communication bridge between the Middle East and China.
Visit to Beeah
Capital President Zouheir Sabra on May 6
Attendance at the
13th Annual Investment Meeting (AIM) in the UAE on May 7
Visit to Lunate
Capital on May 9
Visit to Mashreq Bank
on May 10
Visit to Dubai International Financial Centre (DIFC) on May 10
Visit to AL Mal
Capital on May 10
Visit to Emirates
Investment Bank (EIB) on May 11
Aligning with National
Strategy,
Committed to Financial Services
for the Real Economy
President Xi Jinping has repeatedly emphasized
that “serving the real economy is the foundation of financial services”, and
has profoundly pointed out that “the real economy is the foundation of finance,
and finance is the lifeblood of the real economy”. As global economic
cooperation continues to deepen, TF International proposed a strategy to
enhance the cooperation between China and Saudi Arabia in the industrial chain
as early as a year ago. TF International staff made their initial visit to
Riyadh in late June 2023, where they met with local government investment
departments and major financial investment institutions, and presented an
“integrated industry chain solutions”. In less than a year since then, it has
consistently accomplished multiple international business trade connections and
organized two top-tier trade conferences sponsored by the People’s Government
of Hubei Province. These include the “2023 China Hubei-Saudi Arabia Economic
and Trade Cooperation Matchmaking Conference” held in Riyadh on November 26,
2023, and the “Cherry Blossom Viewing: 2024 Business Cooperation and Fortune
500 Dialogue with Hubei” kicked off on March 21, 2024, in Wuhan, Hubei, which
featured the BRI Hubei-Middle East Economic and Trade Forum and the “Artificial
Intelligence +” Technology Theme Roundtable Forum.
From initial investment strategies to high-level
economic and trade matchmaking sessions, and culminating in the implementation
of several memoranda of understanding, over the past year, TF International has
successfully assisted Chinese and Middle Eastern institutions and enterprises
in signing over ten cooperation agreements, gradually realizing the results of
its long-term strategy in the Middle East. A series of business promotion and
matchmaking activities initiated by TF International have facilitated the entry
of more than 40 representative new-quality production enterprises from Hubei
and other cities in China areas into Saudi Arabia and attracted over 20
significant Middle Eastern capital entities to Hubei, demonstrating a global
perspective and a strong sense of responsibility. Additionally, TF
International is preparing to establish a Belt and Road Division to explore and
integrate more localized resources, providing comprehensive one-stop financial
services.
Cooperation between China and the Middle East is
continuously expanding, covering numerous areas including trade, production
capacity, finance, and infrastructure development, with both the methods and
intensity of cooperation deepening over time. In the future, TF International
will continue its role as a bridge and an “ultimate connector”. The company
will enhance its promotion of standout industries and quality enterprises from
the mainland, and efficiently empower the real economy with expert financial
services. It aims to foster robust strategic partnerships between China and
Middle East countries, actively supporting the Belt and Road Initiative and
Saudi Vision 2030, while continuously leveraging the resource advantages and
professional expertise of Chinese financial enterprises in Hong Kong.
