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
