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4 Jun 2025

The Governor of the Central Bank of Egypt (CBE) , Hassan Abdalla, met with the President of the Industrial and Commercial Bank of China (ICBC), Liu Jun, at the CBE’s premises to discuss areas of bilateral cooperation, according to a Cabinet statement released on Wednesday.

The meeting was attended by the Deputy Governors and the Assistant Governor of the Central Bank of Egypt.

The Economic and Commercial Counselor from the Chinese Embassy in Cairo was also present, along with a broad selection of senior officials from banks and representatives of the Chinese Embassy in Egypt.

The meeting featured discussions on strengthening economic, financial, and trade cooperation between the two sides.

Additionally, it discussed the possibility of an ICBC presence in Egypt, whether through a branch or a full-fledged bank, given the Egyptian market’s attractive investment environment across all sectors, particularly the banking sector's resilience.

China is a major investor in Egypt, with over 2,800 Chinese companies operating across various sectors and investments exceeding $8 billion, according to the General Authority for Investment and Free Zones (GAFI).

Abdalla highlighted the strong Chinese-Egyptian strategic relations as a key pillar for economic cooperation. He also emphasised the CBE’s commitment to fostering mutual cooperation within the comprehensive bilateral framework.

It is worth mentioning that the President of China is expected to visit Egypt soon to significantly advance bilateral relations and open new horizons for cooperation, particularly in sustainable development and regional stability amid today’s global challenges.