Number of China-Europe freight trains exceeds 85,000, effectively promoting development of countries along the route: FM

The cumulative number of China-Europe freight trains has exceeded 85,000, and it has opened a new bridge for economic and trade cooperation for Eurasian continent, Mao Ning, spokesperson of Chinese Foreign Ministry, said on Thursday. 

The routes of the freight trains have grown from scratch, and the transportation capacity has grown "from small to large," and it has opened a new bridge for economic and trade cooperation for Eurasian continent, Mao said. 

In the past decade, the customs clearance and inspection along the China-Europe freight trains have become more convenient, the business environment at ports has continued to be optimized, and international transportation regulations have become more standardized, Mao said. 

Relying on the freight train service, China has achieved closer cooperation with Central Asia and Europe, and its economy and trade have become more prosperous. A large number of companies of international trade, intelligent manufacturing and supply chain have taken root in areas along the route, and industries such as manufacturing, commerce, finance and information are continuously being upgraded, making products welcomed in China and European countries, Mao said.

China-Europe freight trains will continue to operate at full capacity, injecting new impetus into the development of the Eurasian continent, Mao said. 

CCTV.com reported that, since 2024, more than 2,600 China-Europe freight trains have been completed, a year-on-year increase of 5.3 percent, and more than 1,000 trains have been operated in a single month for 46 consecutive months.

At present, China-Europe trains have reached 25 countries in Europe, and the number of connected cities has increased from 217 in 2023 to 219.

US asked to stop smearing China on data security, to promote orderly flow of global data

China's Foreign Ministry urged the US to stop slandering and smearing China on data security, and maintain an open, fair and non-discriminatory business environment, spokesperson Mao Ning told a press conference on Thursday.

Mao's remarks came after the Biden administration on Wednesday unveiled an executive order barring genomic data transfers to China, Reuters reported, claiming that the US is seeking to protect American personal data over so-called national security concerns.

The order will curb bulk transfers of Americans' geo-location, biometric, health and financial information to specific "countries of concern." 

This is the first time the US has taken such measures, and the US executive order is also seen as the latest escalation of the "digital cold war" between the two countries.

In response, Mao noted that the US has generalized the concept of national security by falsely claiming that China is purchasing sensitive data of US citizens and engaging in malicious activities. "Banning the flow of data to the so-called countries of concern, including China, is a discriminatory practice clearly targeting a specific country, which China firmly opposes," she said.

The Chinese government has always placed great importance on the protection of data privacy and security, and has never, and will never, ask its enterprises or individuals to collect or provide data information and intelligence located in foreign countries for the Chinese government in a manner that violates local laws, Mao said.

China has taken the lead in proposing a global data security initiative, and if the US is truly concerned about data security, it could publicly support China's initiative or make a similar commitment, she noted.

"We asked the US to stop slandering and smearing China, effectively maintain an open, fair and non-discriminatory business environment and work with all parties to formulate universal data security rules, in order to promote the orderly and free flow of global data," said Mao.

By following US policy toward China, EU risks suffering most damage among the three

Chinese President Xi Jinping met with Belgian Prime Minister Alexander De Croo in Beijing on Friday. De Croo's visit to China is one of the most important high-level contacts between China and the EU this year, following the visits to China by European Council President Charles Michel and European Commission President Ursula von der Leyen in December.

The visit highlights the ongoing dialogue and interaction between China and the EU, especially as Belgium recently assumed the rotating presidency of the Council of the European Union and De Croo will be in a pivotal position to coordinate the EU's policy agenda for the next six months.

EU's relationship with China is complex and multifaceted, with differences between the two sides in a number of areas, including trade imbalances and subsidies, and the conflict in Ukraine. However, these specific issues are set against the backdrop of broader geopolitical and global power shifts that have caused unease in the EU.

Europeans are increasingly aware of China's growing presence on the global stage, not only in the economic sphere but also in the technological and geopolitical spheres.

The changing relationship between the three poles of China, the US and Europe is not a new phenomenon. While the US continues to lead, China and the EU are playing an increasing role on the global stage, which has become more pronounced in the wake of the advancement of Europe's strategic autonomy and the rise of China.

As an ally of the US, the EU continues to be highly concerned about China's rise. This is well illustrated by comparing the covers of two issues of The Economist, a British weekly newspaper, which in 2013 featured the threat of China's carbon emissions to the World. In 2024, the cover showed the new threat of China's lead in green technologies. 

If you imagine China, the US and the EU as three runners on a track, the US is still leading, and China is occasionally ahead of the EU, but most of the time, it is the other way around. It's often the second-place runner that's more anxious.

This race scene also shows us the difference between US and European policy toward China. 

The EU is currently focused on decreasing reliance on foreign high-end technology suppliers, particularly to avoid being surpassed or replaced by China in critical areas, while also implementing protective measures to counter the impact of Chinese manufacturing on the European market. In contrast, the US strives to uphold its global dominance in high-tech fields and key manufacturing areas by constraining China.

The outcome of this competition is different from what the US expected: Rather than rebuilding supply chains to exclude Chinese manufacturing, each player seeks to consolidate and strengthen its position in existing supply chains.

"Decoupling" and "breaking the chain" are not feasible. It is improbable that either party can construct a new, fully independent global supply chain. If the EU adopts the US approach toward China, it may end up more reliant on the US and suffer the most damage among the three parties.

As the EU follows the US containment policy toward China, especially in semiconductor manufacturing equipment, it risks losing a lucrative market with the strongest end-product manufacturing capacity, widening the gap with the US.

The EU's strategic dilemma with China also reflects its strategic dilemma with the US. The EU aims to be the leading global economy but also wants to maintain reliance on the US, strategically using the alliance to build its own influential position globally.

The EU needs to define its approach to China independently. This doesn't mean the EU should draw a clear line with the US, but there is a need for a more pragmatic, rational and comprehensive attitude when considering its relationship with China. It should not always focus on competition with China and ignore the widening gap with the US.

If the EU can more frequently consider its relationship with China from a different perspective, then both China and Europe have competitive and cooperative aspects, with the latter potentially reducing the gap between the two sides and the US, thereby bringing stability to the world's multipolarization.

Therefore, creating more connections between the EU and China is crucial. With more bridges, there will be more roads, improved communication and better understanding. China and EU can establish a new relationship that will support balanced global development.

Results of Taiwan leadership, legislature elections unveiled

Taiwan's leadership and legislature elections were held on Saturday.

Candidate of the Democratic Progressive Party (DPP) Lai Ching-te and his running mate Hsiao Bi-khim won the leadership election.

In the election of the island's 113-seat legislature, the Chinese Kuomintang party garnered 52 seats, the DPP won 51 seats, and the Taiwan People's Party seized eight seats. The rest two went to independent candidates.

Washington urged to keep promise on Taiwan question

China's Foreign Ministry on Thursday urged the US to abide by the one-China principle, stop sending wrong signals to Taiwan secessionists, and refrain from interfering in the Taiwan's regional leader election in any form, after reports disclosed that the Biden administration will dispatch a delegation comprised of former senior officials to the island of Taiwan shortly after the island's regional leader election to be held on Saturday.

Chinese experts noted that the US' scheme would be destructive to China-US relations, and is highly likely to trigger countermeasures from the Chinese side, which has reiterated the core significance of the Taiwan question.

Citing people familiar with the plan, the Financial Times (FT) said in a Wednesday report that the White House has tapped James Steinberg, a former Democratic deputy secretary of state, and Stephen Hadley, a former Republican national security adviser, to lead the bipartisan delegation to Taiwan island. 

The FT report said that the purpose of sending the delegation is to ensure Washington was "communicating clearly" with the winning and losing candidates about US policy and the "uniqueness of the unofficial relationship" between the US and Taiwan island.

The Associated Press (AP) said sending the delegation is the "most effective way" to engage the newly-elected authorities and convey US policy.

One senior administration official said that the delegation "will convey the importance of ties" between the US and Taiwan island and also reiterate Washington's "one-China policy," CNN reported, noting that exact composition of the delegation was still being determined, per senior administration officials it reached. 

"Taiwan is an inalienable part of China. China always firmly opposes any form of official exchanges between the US and Taiwan authorities," Mao Ning, a Chinese Foreign Ministry spokesperson said. 

The US side should earnestly abide by the one-China principle, prudently and properly handle the Taiwan question, stop sending any wrong signals to Taiwan secessionists, and refrain from interfering in the Taiwan regional elections in any form, so as to avoid causing serious damage to China-US relations and peace and stability across the Taiwan Straits, Mao said. 

She added that China will take resolute and forceful measures to safeguard national sovereignty and territorial integrity.

Lü Xiang, an expert on US studies at the Chinese Academy of Social Sciences, told the Global Times that the US releasing such a message a few days before the Taiwan regional election is a move apparently aimed at appeasing secessionists on the island, and encouraging voters "not to be afraid to support secessionists."

US tricks cannot change the overall situation of the Chinese mainland seizing the initiative of the cross-Straits situation, Lü said, "China stays focused and will make all kinds of contingency plans. If the US crosses the red line, China will definitely take firm countermeasures."

Citing one former US official, the FT report noted that sending the delegation to Taipei right after the election was a "risky move that could backfire."  

Diao Daming, an expert on US studies at the Renmin University of China in Beijing, told the Global Times on Thursday that disclosing the planning of the trip ahead of the Taiwan regional leader election may suggest that the US believes that whoever takes office can be used by the White House to implement the US' "Indo-Pacific" strategy. 

"If secessionist Lai Ching-te is elected, it will carry out more risk management, and if KMT's Hou Yu-ih is elected, the US will hold him back from getting too close with the mainland," he explained. 

But Washington should be aware that if there is any reaction from the Chinese side, it is the result of US actions, said Diao, "Instead of being concerned about the China's countermeasures, the US should follow through on its promise [on Taiwan question]."

The US move also came amid recent increased interactions between China and US to stabilize strained ties. 

Liu Jianchao, head of the International Department of the Communist Party of China (CPC) Central Committee, visited the US this week, urging it to abide by its commitment to not support "Taiwan independence."

At the Carter Center Forum commemorating the 45th anniversary of the establishment of China-US diplomatic relations on Tuesday, Xie Feng, Chinese Ambassador to the US, reiterated that the Taiwan question is the most important and sensitive question in China-US relations.

China hopes to maintain stability in the Taiwan Straits and does not want to see a conflict between China and the US over the Taiwan question, but the premise is that the US cannot cross the red line, otherwise China will definitely respond in a "tit for tat" manner, Lü said 

China's communication with the US on the Taiwan question is entirely a manifestation of goodwill,Lü said,"If one day China no longer talks about the Taiwan question with the US, it means that China does not consider Washington to be a factor, then the situation will be irreversible."

Blinken's fifth Israel visit since Gaza war for diplomatic posture, rather than real mediation: experts

US Secretary of State Antony Blinken, after touring multiple Arab countries, is meeting Israeli leaders on Tuesday amid the enduring Gaza humanitarian disaster, Houthi attacks on Red Sea shipping and the escalation in hostilities at the Israel-Lebanon borders.

Speaking alongside Israeli President Isaac Herzog ahead of their meeting on Tuesday, Blinken said he would share what he had heard from regional countries during a day of meetings with Israel's government, including Prime Minister Benjamin Netanyahu, Reuters reported.

Blinken's agenda for his fifth Israel visit in three months includes discussing the next phase of Israel's military campaign and pressing on the protection of civilians, according to the US Department of State. 

But Chinese observers have low expectations that Blinken's trip can help alleviate the tension, as Israel shows no signs of softening its military assertiveness while the US eyes a diplomatic posture rather than real mediation. 

Since Friday, Blinken has visited countries including Turkey, Jordan, Qatar, the United Arab Emirates and Saudi Arabia. During the trip, he repeated multiple times the urgency of de-escalating the tension and discussed plans for the future governance of Gaza. 

On Monday, Blinken said Palestinians "must not be pressed to leave Gaza" and he criticized "irresponsible" comments by some Israel ministers calling for people's resettlement outside the enclave, media reported.

Yet US calls may only get symbolic resonation from Israel as the two close allies are diverging wider and wider on Gaza and Middle East issues, Zhu Yongbiao, executive director of the Research Center for the Belt and Road at Lanzhou University, told the Global Times on Tuesday. 

Israeli officials said the strikes in Gaza have entered a new phase of more targeted warfare, but there was no respite in the fighting on Monday, Reuters reported. "The fighting will continue through 2024," said Daniel Hagari, an Israeli military spokesperson, Reuters reported. 

Sun Degang, director of the Center for Middle Eastern Studies at Fudan University, told the Global Times that Israel aims to use its recent victories as leverage to address security concerns in the north and potentially extend its military achievements. 

The US has to deal with the presidential election this year and does not want the Middle East to take up too much of its attention from its competition with China and Russia, Sun said. 

Zhu pointed out that under the US' guideline of withdrawing from the Middle East, Blinken's trip aims to display the US' diplomatic presence and fulfillment of responsibilities as Israel's ally rather than play a constructive role in mediation. 

Therefore the US and Israel could showcase they have reached some consensus on non-significant topics, but that consensus can hardly have meaningful impact on the overall conflicts raging in the region, Zhu said. 

In the latest sign that the war may be spreading, Israel killed a top commander of Hamas' ally Hezbollah in south Lebanon on Monday. It came after an attack in Beirut last week which killed Hamas leader Saleh al-Arouri, for which Israel did not claim responsibility, according to CNN. 

Israeli Defense Minister Yoav Gallant warned on Monday that if Hezbollah is not deterred, Israel can "copy-paste" the Gaza war to Beirut. Gallant told media that his country was determined to end Hamas' rule of Gaza and deter other Iran-backed adversaries, Reuters reported. 

Hezbollah has vowed revenge, and analysts believe there will be more rocket launches, but a "large-scale retaliatory assault" is unlikely as it is beyond regional forces' capacity and will.

However, the possibility cannot be ruled out that there might be actions internationalizing the consequences of the Israeli-Palestinian conflict, such as Houthi attacks on vessels in the Red Sea, Zhu said. 

China’s top anti-graft body to intensify scrutiny in finance, SOEs, healthcare, and more fields

The Central Commission for Discipline Inspection (CCDI) of the Communist Party of China (CPC) and the National Commission of Supervision (NCS), the country’s top anti-graft body, has pledged to intensify scrutiny in areas including finance, state-owned enterprises (SOEs), healthcare, grain procurement and sale, rural revitalization, tobacco, sports, statistics and more.

Special efforts will be carried out to tackle industrial, systemic and regional corruption cases, and effectively prevent and defuse systemic risks, according to an article released on the CCDI and NCS’ website on Monday.

The article highlighted that in order to decisively win the protracted and tough battle against corruption, it is imperative to consistently maintain a “high-pressure stance” and never relent in the determination to punish wrongdoing.

According to a five-year work plan of the Central Anti-Corruption Coordination Group from 2023 to 2027, the anti-corruption work will be further expanded to the primary level, with harsh punishments for misconduct including embezzlement, illegal possession and misappropriation, as well as ways to solicit bribes.

A total of 405,000 officials at all levels were punished over the first nine months of 2023, of whom 34 of were senior officials at provincial or ministerial levels, per data from the CCDI and NCS.

In recent years, the financial sector has been a focal point for anti-corruption efforts. In 2023, at least 101 individuals in the financial field were put under investigation, according to media reports.

Notably, the list includes senior officials like Liu Liange, former Party chief and president of the Bank of China, Zhou Qingyu, a former vice president of China Development Bank, and Li Xiaopeng, former Party chief and chairman of China Everbright Group.

Out of the 101 individuals under investigation, 74 are from the banking sector, 12 from regulatory authorities, seven from insurance institutions, two from financial groups, one from a securities institution, and five from other financial organizations, domestic news site Thepaper.cn reported.

The high-intensity anti-corruption campaign continues into the beginning of 2024, with the latest busted case involving Wang Yongsheng, former deputy president of China Development Bank, who was expelled from the CPC for severe violations of Party discipline and the law, the country's top anti-graft body said on Friday.

Hong Kong sprinter inspired by Su Bingtian to step on international stage

Cheng Cheung Hung, a sprinter from Hong Kong, China, says Asia's fastest man Su Bingtian is his hero, who encouraged him to work hard to step on the world stage one day.

"Su Bingtian created a new Asian record. His super performance definitely earned him the title of 'Su-per,' I had the pleasure of shaking his hand, which was a great inspiration," said Cheng after his competition in China's first Student (Youth) Games on Monday.

Su was the first Chinese to run 100 meters in under 10 seconds in 2015, followed by Xie Zhenye in 2018. With a personal best of 9.83 seconds in the 100 meters event, he is the fifth fastest man all-time in the category at the Olympics.

Four weeks ago, Su delivered a lecture in Hong Kong when Cheng not only shook hands with his idol, but also was inspired by Su's speech.

"It was truly an enlightening experience for me," recalled Cheng. "Su encouraged us to try and challenge ourselves, to break the limit. Combining talent and hard work, we can step on the world stage."

In the men's 4x100 meters relay final of the Open category, the Hong Kong team finished fifth in 40.45 seconds on Monday afternoon. The 19-year-old captain admitted they had room to improve.

"Maybe compared to other teams, our advantage is not so obvious, so we chose some special strategies. However, the process of competition is a lesson for us. We can learn from others," said Cheng.

Majored in Physical Therapy, Cheng has well balanced his academic studies and training at Hong Kong Metropolitan University.

"The main thing is to do a good job of time allocation for studying and training," he said.

"In the classroom and on the sports field, it's all about learning. We can see the performance of different regional teams through participating in competitions, which is also a learning process." 

Through studying physical therapy at university, Cheng gained a deeper understanding of human body structure and conducted scientific analysis of sprinting. He said he can be aware of the change in his physical state now and immediately adjust his training volume based on his knowledge and research.

"It would be a great honor to be involved in sports [after graduating from university], to pass on the experience I have learned now to the next generation, and I hope to help the development of sports in Hong Kong," Cheng said.  

Philadelphia Orchestra performs in China on 50th anniversary of icebreaking trip, shows 'people the ballast' in China-US relations

The Philadelphia Orchestra, a renowned US art group which embarked on a historic art icebreaking trip 1973, is scheduled to perform on Friday night in Beijing with China National Symphony Orchestra as an opening episode for a tour which will also make stops in Tianjin, Shanghai and Suzhou.

As the first American art group to perform in the People's Republic of China half a century ago, the orchestra has returned to China for their 12th visit after unexpected hiatus due to the pandemic.

"The pandemic is not the fault of either government, but has separated us," US ambassador to China Nicholas Burns said on Thursday addressing a reception commemorating the half century of friendship marked by music.

Both China and the US agree that we are in need of greater connections between the peoples, as the ballast of any relationship between two great countries is the people, Burns said.

The reception is hosted by the Chinese People's Association for Friendship with Foreign Countries (CPAFFC). Yang Wanming, president of the CPAFFC, sensed American friends' concerns about the recent China-US relations through communication with them.

"Yet I have also felt the strong desire of various sectors in the US, especially from the people and local communities, to improve the current situation and the earnest hope for stable and healthy development of the bilateral relationship," Yang said in his speech on Thursday.

Despite many complications in the US-China relationship, the people of China and the US have a lot in common and need to come together, Burns told the Global Times.

"We need more of this [music exchanges], and we need sports diplomacy," the ambassador said, citing his latest experience of watching Shanghai Sharks, with American players, in basketball game with Beijing Ducks on Sunday.

Burns expressed his hope that more tourists, students and businesspeople could go back and forth between China and the US, as people are an integral part of any diplomatic relationship.

Matías Tarnopolsky, the orchestra's president and CEO, said that music has the power to connect and to build bridges.

"It has been our privilege to contribute in a meaningful way to US-China understanding and connection for the past half-century. We hope that our music-making will continue to build bridges between our people and cultures for another 50 years," Tarnopolsky said.

Violinist Davyd Booth, 74, was on the historic tour in 1973 and every China visit since then. He shared with the Global Times in an earlier interview his vivid memories of the first tour and the development he has witnessed over the past 50 years.

"The friendship between the two countries bridges all sorts of gaps as music brings everyone together. Now we have many Chinese members in the Philadelphia Orchestra. China is really a part of us," said Booth.
Musicians from the Philadelphia Orchestra performed excerpts from "Flax and Charlock" Fantasie Quartet, an excerpt from "Lan Hua Hua," adapted from traditional Chinese folk music that originated in Northwest China's Shaanxi Province.

They also cooperated with children from Beijing Philharmonic Choir to perform the traditional Chinese song "Jasmine Flower."

It is hoped that the children, and more people of younger generations, will inherit the cause of China-US exchanges and carry on the mission of friendship for the next half century and beyond, a reception attendee told the Global Times.

Dubai maintains top global ranking for attracting Greenfield FDI projects in H1 2023

Dubai remains the top global destination for attracting Greenfield Foreign Direct Investment (FDI) projects, with the emirate attracting 511 Greenfield projects in H1 2023, as per Financial Times 'fDi Markets' data - the comprehensive online database on cross-border greenfield investments.

Dubai continues to set new benchmarks in global performance as an investment destination, surpassing second-placed Singapore by 325 projects.

During the first half of 2023, Dubai's global share in the attraction of Greenfield FDI projects stood at 6.58 percent - up from 3.83 percent over the same six-month period last year.

The results, which underscore the emirate's status as a key investment hub, align directly with the city's 10-year Dubai Economic Agenda D33, which aims to double the size of the emirate's economy over the next decade.

H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, said: "Dubai's ability to maintain its top ranking in attracting Greenfield FDI projects reflects the city's ability to create unparalleled growth opportunities and value for global investors. Guided by the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the emirate has intensified its drive to accelerate economic diversification and innovation. This commitment, coupled with the adoption of advanced technologies, is shaping a future filled with endless opportunities for progress and prosperity. With the clear growth roadmap set out by the Dubai Economic Agenda D33, we continue to work to create an investment environment that not only wins the trust of investors from all over the world but also encourages them to contribute to Dubai's transformation."

In parallel, new data released by Dubai FDI Monitor at Dubai's Department of Economy and Tourism (DET), shows the city logged a total of 880 announced FDI projects between January and June of this year, a year-on-year growth of 70 percent. The Dubai FDI Monitor tracks, substantiates and analyses all types of FDI projects announced within the emirate.

Dubai FDI Monitor data also indicates that Dubai's Greenfield FDI projects account for 65 percent of total announced FDI projects. The report also states year-on-year Reinvestment FDIs increased from 3 percent to 4.4 percent when comparing H1 2023 with the same period in 2022.

Meanwhile, Dubai also saw a year-on-year rise in global Greenfield FDI capital attraction, reaching AED20.87 billion (USD5.68 billion). According to Financial Times Ltd. "fDi Markets" data, Dubai climbed from eighth in H1 2022 to sixth globally in H1 2023,

Additionally, Dubai ranks first globally in the attraction of HQ FDI projects, according to Financial Times Ltd. "fDi Markets" data, by attracting 33 HQ projects in the first half of this year, ahead of London and Singapore. The achievement further highlights the emirate's rising profile as a global hub for the headquarters of leading companies.

Helal Saeed Almarri, Director General of Dubai's Department of Economy and Tourism, commented: "We are continuing to accelerate efforts to deliver the Dubai Economic Agenda D33 launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

"As we work to enhance the city's competitiveness and business environment internationally, these strong increases in announced FDI projects for H1 2023 drive home how our progressive policy enablers and diverse attraction programmes are resonating with global investors and decision makers alike."

The Financial Times Ltd. "fDi Markets" data also shows Dubai rose from ninth in H1 2022 to fourth place globally in H1 2023 in employment creation from FDI projects. The climb follows a 43.3 percent surge in job creation in H1 2023 compared to H1 2022, equating to a total of 24,236 jobs created through FDI.

In line with DET's economic diversification initiatives, Dubai's efforts to retain and attract highly skilled talent were illustrated in the top six sectors contributing to estimated job creation by FDI in H1 2023: Business Services at 5,212 jobs (21.5% share), Software and IT at 3,525 jobs (14.5 percent), Food & Beverages at 3,090 jobs (12.7percent), Financial Services at 1,813 jobs (7.5 percent), Consumer Products at 2,104 jobs (8.3 percent) and Real Estate at 921 jobs (3.8percent).

Dubai FDI Monitor states the emirate continued to attract medium-to-high-technology and low-technology FDI projects in H1 2023, with rates of 63 percent and 37percent, respectively, unchanged from last year. The data illustrates the prevalence of medium-high technology FDI ventures in Dubai, underscoring the city's status as a global hub for cutting-edge FDI projects and a nexus for specialised talent in the digital economy.

In terms of key sectors bringing FDI capital into Dubai, Financial Services (52percent), Business Services (12.8 percent), Software & IT Services (7.5 percent), Real Estate (6.9 percent) and F&B (3 percent) lead the way. The Dubai FDI Monitor showed the top five sectors accounted for 82 percent of total FDI capital inflow and 70 percent of total FDI projects. Leading sectors by FDI projects include Business Services (22.4 percent), Software & IT (17.8 percent), F&B (12.2 percent), Financial Services (9 percent) and Consumer Products (8.3 percent).