China is UAE largest trading partner. Here is the 2026 guide for UAE companies managing China trade banking.
In this guide:
UAE-China Trade Overview
- UAE-China bilateral trade: USD 60+ billion annually; China is UAE largest trading partner
- Dubai Dragon Mart: World largest trading centre for Chinese goods outside China
- Chinese companies in UAE: 4,000+ Chinese companies registered; growing rapidly
UAE to China Banking (RMB vs. USD)
- Most China trade: Settled in USD via SWIFT; not RMB
- RMB accounts: Some UAE banks offer CNH (offshore RMB) accounts; useful for RMB invoicing
- CIPS: China Interbank Payment System; alternative to SWIFT for RMB transactions; not yet widely available in UAE banks
Best UAE Banks for China Trade
- Industrial and Commercial Bank of China (ICBC): UAE branches; RMB accounts; direct China connections
- Bank of China UAE: Direct China banking connection; RMB settlement available
- Emirates NBD: Large China trade finance division; USD SWIFT for China payments
- HSBC UAE: Strong China connectivity; SWIFT and RMB options
Practical China Trade Banking Tips
- Alibaba/AliExpress sourcing: Most Chinese suppliers accept T/T (wire transfer) in USD
- Letters of credit: Recommended for new supplier relationships; UAE banks can issue UAE LC for China suppliers
- Source of funds: UAE banks require clear documentation for large China-origin payments