50 Chinese Unicorns Set to Make Strong Presence at AIM Global 2023
increased number of companies, organizations, and investors from the world’s second-largest economy participating in this year’s edition of the conference. This comes as the two countries recently discussed boosting joint investment prospects in new economic sectors.
China’s top 50 unicorns are expected to join the “Arab-China Unicorn Investment Conclave,” which is organized on the sidelines of the AIM Global 2023. Its objective is to delve into the intricacies of investing and scaling successful unicorns in China and the UAE by means of engaging talks and thought-provoking panel discussions, with the aim of providing valuable strategies and insights to the attendees, some of which are from international and regional organizations, ministries and government departments, and chambers of commerce and industry business councils, among many others.
The conclave is also an opportune platform for the participating unicorns from China to showcase their best innovation projects and pitch their growth plans and potential to investors. In addition, partners, sponsors, and top technology solution providers from the UAE and China as well as their leading investment opportunities in technology will be recognized through the “Unicorns Social Impact Awards” as part of the event’s closing ceremonies.
With the support of the Ministry of Industry and Advanced Technology and the Abu Dhabi Department of Economic Development as lead partner, the 12th Annual Investment Meeting will take place on May 8 to 10 at the Abu Dhabi National Exhibition Center, and will gather together global investors, decision makers, senior corporate leaders, government officials, and top executives of multilateral institutions and civil society to ultimately identify untapped business opportunities and lay the foundation for new cooperation on a mutually beneficial basis.
Some of the most successful unicorns attending the Arab-China Unicorn Investment Conclave at AIM Global 2023 include ToJoY Holding Group, whose company valuation is now at USD 4.35 billion; Breton Technology Co., Ltd., USD 1.8 billion; Shenzhen Lisecond Sensing Technology Co., Ltd., USD 500 million;
Xiaoyu Dida Interconnect International Ltd., USD 500 million; and armClouding Technology Ltd., USD 100 million.
China’s strong presence in the Annual Investment Meeting this year follows close on the heels of the bilateral meeting between the UAE and the People’s Republic of China held in March.
Over the previous years, China has emerged as one of the UAE’s key commercial partners, with significant growth in bilateral investments and trade. The UAE is also China’s number one Arab and GCC trade partner as of 2021.
In 2022, the value of non-oil trade between the UAE and China surpassed AED 264.2 billion (USD 72 billion), which was up by 18% from the previous year’s figure of AED 223.8 billion (USD 61 billion), making China the UAE’s primary global trade partner.
The investment exchanges between the two countries are also witnessing continued growth in various economic and trade sectors, most notably real estate, logistics, storage, financial services, insurance activities, manufacturing and information technology. It amounted to nearly AED 44 billion (USD 12 billion) in early 2021. China is also the third-largest foreign investor in the UAE today, with investments worth USD 9.3 billion as of the beginning of 2021, up 514.5% compared to the same period in 2013.
Dawood Al Shezawi, Chairman of the Annual Investment Meeting, said: “While the foundation of the relationship between the UAE and China was primarily centered around oil in the past, it has currently expanded to encompass a wide range of sectors including infrastructure, sustainable energy, finance, and fintech, which continue to thrive. Joint investment opportunities in new economic areas such as logistical transportation, real estate, and insurance are also now being explored. We are confident that the Annual Investment Meeting will be an invaluable venue to deepen this economic collaboration between the two nations.”
AIM Global 2023 has engaged in several technologically driven initiatives as part of its commitment to build the global economy roadmap and bolster the five key pillars – Startups, Foreign Direct Investment, Small and Medium Enterprises, Future Cities, and Foreign Portfolio Investments.