China's CICC plans Emirati, Saudi expansion as Xi builds Middle East ties

April 6, 2023 DUBAI — China International Capital Corporation (CICC) plans to expand its reach in the United Arab Emirates (UAE) and Saudi Arabia, as China's ties with the Middle East grow politically and economically in the Gulf region. Barry Chan, the broker's Asia and Australia head, said the investment bank already has two offices set up and is working to obtain the licences necessary to perform financial service activities, Bloomberg reported Thursday. "We want to show our commitment that we are in this region for the long haul, instead of flying in-and-out for several days carrying a suitcase," Chan…