DUBAI, Aug. 12 (Xinhua) -- Growing financial connectivity between the United Arab Emirates (UAE) and China, driven by the wider use of the renminbi (RMB), digital payments and cross-border financial services, is set to become a key driver of bilateral trade and investment, a senior banker in the UAE has said.

"As more Chinese companies establish themselves in the UAE, financial infrastructure will become increasingly important," Raheel Ahmed, group chief executive officer of the National Bank of Ras Al Khaimah, also known as Rakbank, told Xinhua in a recent interview.

Over the coming years, RMB internationalization, local currency settlement, trade finance, capital market connectivity and digital finance will be the main pillars of China-UAE financial cooperation, he added.

Founded in 1976 and headquartered in the northern emirate of Ras Al Khaimah, Rakbank is one of the UAE's longest-established banks and has served Chinese clients for more than two decades.

"In the past, the UAE was primarily a trading hub and a distribution center for Chinese companies," he observed. "Today, we are seeing more and more Chinese companies using the UAE as a regional platform for growth, investment and innovation."

Additionally, Chinese companies are increasingly looking beyond traditional economic hubs such as Dubai and Abu Dhabi, Ahmed said, noting that around 400 Chinese companies now operate in Ras Al Khaimah, drawn by its competitive operating costs, well-developed industrial infrastructure, strong logistics connectivity and supportive government policies.

As Chinese companies deepen their local presence, banks are increasingly expected to provide broader financial services.

According to Ahmed, Rakbank now serves about 6,500 Chinese clients, including more than 2,400 companies. Its localized proposition includes 17 Chinese-speaking colleagues across the bank.

The bank also supports RMB settlement, connects with Chinese mobile payment platforms to enable instant remittances, provides RMB liquidity and treasury services to other financial institutions, and offers trade finance and project finance solutions for Chinese companies investing in the UAE, he noted.

"Digital payment infrastructure creates significant opportunities," Ahmed said. "It enables near real-time cross-border payments, lowers costs and improves settlement efficiency, making international trade faster and more reliable."

China has remained the UAE's largest trading partner, with bilateral non-oil trade reaching 111.5 billion U.S. dollars in 2025, up nearly 25 percent year on year.

Against that backdrop, Ahmed said demand for RMB settlement had risen rapidly.

"Our RMB settlement business grew nearly tenfold in 2025 compared with 2024, reflecting rapidly growing market demand," said Ahmed, adding that he expects the RMB's role to expand as more Chinese companies establish regional operations and manufacturing facilities in the UAE.

Looking ahead, Ahmed looks forward to closer cooperation between the two countries in trade finance, treasury services, capital markets and digital finance.

"The relationship between China and the UAE is evolving beyond trade. It is increasingly about investment, finance, technology and people-to-people connectivity. As those links continue to deepen, I believe the opportunities for cooperation will become even greater," he said.