China and countries in the Middle East possess significant potential for collaboration in the financial sector, according to the CEO of an investment firm based in the United Arab Emirates (UAE).
Talking to China Global Television Network (CGTN) in Beijing recently, Hazem Ben-Gacem, CEO of Abu Dhabi-based BlueFive Capital, said such cooperation will bring stock markets in China and Gulf countries closer, facilitating the flow of investor liquidity savings.
"First of all, bringing the two public markets in China, particularly the stock exchanges in Beijing, Shanghai, Shenzhen, and Hong Kong closer in a very interconnected and seamless manner, with stock markets in the Gulf. Second of all, around private wealth, there is an immense level of investor liquidity, savings. Savers have a lot of capital, both in the Gulf and in China and other parts of Southeast Asia," he said.
Hazem Ben-Gacem emphasized the role of technology in expanding global investment opportunities.
"Today, in large parts across the world, usually investors look local and the U.S. stock market. It's not saying this is better than the other one, but new options and solutions to be able to tap into a global financial market becomes an important part. This is easier to do today than any time in the past because of technology. The technology that exists today connects the world in an incredible way," he said.
"Fintech is the backbone of a lot of the future of financial services industry. So, the idea is not to compete, but to effectively in a way be the shovels, be the pipes, the highways on which all the incredible talented fintech providers both in China and in the Middle East to be able to go on that highway and be able to connect the two markets together," added Hazem Ben-Gacem.
China, Middle East countries have great potential for financial cooperation: expert
A delegation of 40 students and teachers from seven Chinese mainland universities on Thursday wrapped up their nine-day visit to Taiwan. They set off for Taiwan on Nov. 27 and visited universities, historical sites, scenic spots, as well as sports, sci-tech and cultural venues on the island, widely engaging with locals throughout the tour.
The delegation made the tour at the invitation of the Taiwan-based Ma Ying-jeou Culture and Education Foundation.
"The young people from both sides of the Strait share the same root, and we are having a harmonious communication this time. We also welcome young people from Taiwan to visit the mainland for exchange," Cao Yibo, a student from Peking University, told reporters during the tour.
The delegation included table tennis Olympic champion Ma Long who studies at Beijing Sport University, and air rifle Olympic champion Yang Qian of Tsinghua University.
"In the future, I would like to visit Taiwan again. I did not expect that so many compatriots in Taiwan would come to welcome and us and pay so much attention to our exchange tour," Ma said.
Hsiao Hsu-tsen, executive director of the Ma Ying-jeou Culture and Education Foundation, saw off the delegation at the airport on Thursday, and said the mainland students and teachers had received Taiwan residents' heartfelt welcome wherever they went.
"The farewell dinner party was held yesterday evening, when almost all students from the mainland shared their feelings. What moved me so much is that every one of them thanked people here, because the latter sincerely and warmly welcomed them wherever they went during the nine-day tour. They told me that when they go back, they will tell their relatives and friends that people in Taiwan are kind, hospitable and warm. I believe that is the most important purpose of the exchange across the Strait," he said.
Calling youth exchanges a foundation of cross-Strait relations in the future, Hsiao said the foundation will carry on and continue to promote such exchanges across the Strait.
This is the second delegation of mainland teachers and students visiting Taiwan at the invitation of the Ma Ying-jeou Foundation, following the visit by a first delegation in July last year.
Delegation of mainland university students, teachers wraps up Taiwan visit
