Dubai’s deputy ruler, Sheikh Mohammad Bin Rashid Al Maktoum has held talks with a delegation from the China Construction Bank, including its chairman, Guo Shuqing.

Reports state that Sheikh Maktoum commended China on its rise in the global economy and indicated that the visit was the beginning of a new relationship between the UAE’s and China’s banking sectors. The bank chairman expressed interest in opening a regional branch of CCB in the UAE.

Although China is currently the UAE’s second biggest trading partner, with India sitting in the top spot, some recent predictions have suggested trade  between the UAE and China could top $100 billion by 2015.