Chinese asset managers seek Dubai licenses

More Chinese asset managers are applying for operational licenses in Dubai as China-US tensions continue to brew and China’s ties warm with the Middle East , Dubai Financial Services Authority (DFSA) CEO Ian Johnston told Reuters. The DFSA, previously dominated by interest from China’s big commercial banks, is also seeing more wealth managers and family offices from Hong Kong and Singapore set up offices in the emirate, while Dubai and Chinese bourses are also looking at partnering on exchange-traded funds (ETF) and index products, Johnston told Reuters.