Date / Period 22 March 2017
/ 0 days event venu
Grand Hyatt Beijing Location
Dongdan, 1 E Chang'an Ave, Dongcheng, Beijing 100005, Chine Event Type
Islamic fi nance is increasingly gaining traction in China, as the world’s second-largest economy attempts to boost its ties with Muslimmajority countries. The country’s ambitious ‘One Belt, One Road’ strategy to rebuild Silk Road trade ties with Asia and Europe has gotten Chinese state-owned enterprises and private companies exploring opportunities within Islamic capital markets. With a Muslim population of its own of approximately 20 million, Islamic fi nance is increasingly becoming an attractive proposition for the sleeping giant.
Infrastructure development, energy, fi nance, trade and security cooperation are some of the avenues that market participants believe both China and OIC countries could leverage on, to develop long-term strategic alliances. For Islamic investors, China presents further potential to diversify investment portfolios and capacity development opportunities, as there are many unexplored transactions in the Chinese markets waiting to be unraveled.
The renminbi’s recent inclusion into the IMF’s special drawing rights refl ects the growing prominence of the country’s currency in international trade, investment and fi nancing. With a lot more infrastructure projects needed in Asia, China will no doubt be playing a key role in the number of major transactions, including deals involving Islamic fi nancing.