In recent years, China and the United Arab Emirates have continuously achieved new results in financial cooperation, continuously promoting local currency cooperation, promoting interconnectivity of financial infrastructure, and providing practical guarantees and convenience for bilateral real economy, trade, and investment and financing. Recently, at a special event held by Bank of China Dubai Branch and Agricultural Bank of China Dubai Branch, many political, business, and academic figures expressed that the ecological use of the RMB in the Middle East continues to improve, and the cooperation space is constantly expanding. The Agricultural Bank of China Dubai Branch held the Middle East RMB Ecological Construction Forum in Dubai on the 12th. In the forum, Pat Tucker, a Middle East expert at The Economist Intelligence Unit, said that China and the United Arab Emirates have close relations and extensive business cooperation, which provides support for the use of the renminbi in the UAE. She stated that the UAE is located at the center of the Middle East transportation and economic corridor, with Chinese banks deeply cultivating their layout, Chinese enterprises accelerating their "going global" efforts, and the two sides increasingly cooperating in finance, investment, and other fields, which will contribute to the sustained improvement of the RMB usage ecology in the Middle East. Yang Liyu, Executive Deputy Secretary General of the Asian Association for Financial Cooperation, said at the forum that the Middle East is a "crossroads" connecting the three continents of Asia, Africa and Europe, an important node for high-quality joint construction of the "the Belt and Road", the world's most important energy export place, and a capital highland gathered by sovereign wealth funds. Cooperation with China can be strengthened in energy cooperation, financial infrastructure connectivity, multilateral cooperation, and building the RMB ecosystem. Chinese Ambassador to the United Arab Emirates, Zhang Yiming, stated that cooperation in the financial sector between China and the UAE is at the forefront of China's cooperation with countries in the region, and is constantly moving towards deeper and broader directions. Wang Wenjin, Vice President of Agricultural Bank of China, said that with the deepening of economic and trade cooperation between China and the Middle East, the ecological use of the RMB continues to improve, and its functionality and convenience are steadily improving, injecting lasting momentum into the win-win development of both sides. As a globally systemically important bank, Agricultural Bank of China Dubai Branch will strengthen its RMB clearing bank brand, fully leverage the onshore synergy advantages of the two branches in the region, and promote the stable and far-reaching construction of the RMB "ecosystem" in the Middle East. At the "Creating a New Global Financial Landscape - Cross border Use of RMB and Bond Market Special Event" jointly hosted by Bank of China Dubai Branch and Nasdaq Dubai Exchange on the 14th, Halif Rabaa, Chief Operating Officer of Dubai Financial Market, said that in the past decade, the Dubai financial market has witnessed multiple collaborations and breakthroughs between the governments and financial institutions of the two countries in the financial field, including the successful issuance of various bonds and the continuous deepening of financial cooperation. He is optimistic about the potential for future cooperation between the two sides in areas such as sustainable finance, innovative product development, and investment channel construction. In October of this year, according to the Memorandum of Cooperation between the People's Bank of China and the Central Bank of the United Arab Emirates, the People's Bank of China decided to authorize Abu Dhabi First Bank Co., Ltd., a listed company in the United Arab Emirates, to serve as the RMB clearing bank in the UAE. This institution became the first regional local bank to serve as the RMB clearing bank. The Agricultural Bank of China Dubai Branch is the first RMB clearing bank designated by the People's Bank of China in the United Arab Emirates. In May of this year, China's cross-border interbank payment clearing company signed a memorandum of cooperation with the Central Bank of the United Arab Emirates to further strengthen cooperation in the field of payment infrastructure. The UAE will be a key node to provide more efficient local currency payment clearing services for regional institutions. (New Society)