Theme: The potential for participative economy and financial system: Growth, Development, Integration and Cooperation

7-8 November 2018

The "Joint Statement on Establishing a Comprehensive Strategic Partnership between China and the United Arab Emirates" was signed in 2018 during  Chinese President Xi Jinping's state visit to the United Arab Emirates. The cooperation under "The Belt and Road Initiative" will be further strengthened. The cooperation between China and the UAE  covers many fields including politics, economics and finance, education and technology, renewable energy and water resources, oil and gas, military facilitating people-to-people exchanges, and the implementation of the "Belt and Road Initiative".

Participative Economy and financial system should lead to equitable, stable and sustainable economic growth. It helps to resolve poverty problems and could address unemployment.  It optimizes saving and investment.  Its underlying risk sharing can promote technological innovation.

Participative Economy and financial system should lead to equitable, stable and sustainable economic growth. It helps to resolve poverty problems and could address unemployment.  It optimizes saving and investment.  Its underlying risk sharing can promote technological innovation.

In 2013 the One Belt One Road initiative was launched by the Chinese president Xi during his visit to Kazakhstan’s capital, Astana, to increase regional trade and encourage economic cooperation. The One Belt One Road initiative was referred to by president Xi as the project of the century.  Now the “One Belt One Road” initiative is central to China’s evolving role in the global economy. It involves infrastructure projects to develop two trade routes: an overland route connecting Europe and the Middle East to China by way of Central Asia, and a maritime route that connects China, South East Asia, India, and Africa.

Ever since the “One Belt One Road Initiative” was launched, many of the Middle East countries wholeheartedly appreciated and pledge their co-operation to this important initiative.  The  One Belt One Road is gamechanger for China and the Middle East economic and trade relations, China is clearly pivoting toward the Middle East and Africa. The relationship between China and the Middle East dates back to thousands of years and trade between them goes back to more than 2500 years ago through the ancient Silk Road.  There is an Arabic saying “seek knowledge, even if it takes to go to China.  The Chinese economy is heavily reliant on energy and securing access to sources of energy has been a key to China economic strategy.   The geographical position of many of the Middle East countries along the belt and road gives these countries a vital strategic significance in the One Belt One Road Initiative.

The 3rd CUCIBF focuses on the extent to which participative economy and financial system can enhance economic growth. The 3rd CUCIBF also focuses on the significance of Middle East in China’s One Belt One Road Initiative.  

What does this initiative mean for the economies of the countries along this road?

How China and the Middle East will grow together through the Belt and Road Initiative?  As China expands its economic influence in the Middle East, participative finance will gain more prominence in China opening the door for Chinese companies to tap on participative finance capital markets, what is the role of participative finance in financing Belt and Road projects?

Financing the Belt and Road Initiative goes beyond the capabilities of China.  The current size of global participative finance industry assets is estimated at US$2.293 trillion at the end of 2016 growing from US2.143 trillion in the end of the previous year and from US$639 Million almost ten years ago in 2007 and is expected to reach US$ 4 trillion by 2020.  Participative finance services are now being offered by more than 1000 institutions in 75 countries in different regions including Europe, Americas, South Asia, Far East, Africa, and Australia. The challenge for the participative finance industry remains, however, to achieve the required level of support from governments.

The One Belt One Road is expected to accelerate the growth in the countries it passes through: what does the initiative mean for these countries? how will they benefit?  what are the challenges facing the Belt and Road initiatives when implemented in the Middle East countries along that Road?  And what is being done to improve the “understanding between peoples” of China and the Middle East, which is one of the five priorities of the “One Belt and One Road” initiative?

The 3rd CUCIBF provides a platform for dialogue and discussions between policymakers, experts and practitioners.  It addresses the potentials of the participative economy and financial system, and its ability to create a sustainable impact as it contributes to the “One Belt, One Road” initiative.  

The conference is  organized by The UAE Ministry of Economy, Hamdan Bin Mohammed Smart University, Dubai Center for Islamic Banking and Finance, Dubai   Islamic Economy  Development  Center, China  Islamic  Finance  Club,  Zhisheng Inter-culture  Communication, and  Thomson Reuters as a knowledge partner  in  alignment  with  the  initiative  of  His Highness Sheikh Mohammed Bin Rashid Al-Maktoum, Vice President and Prime Minister of the UAE and ruler of Dubai to establish Dubai as the Capital of Islamic Economy and in support the "Belt and Road" Initiative. 

We would be pleased if you would join us at this prestigious event and contribute to its success.