China-GCC financial cooperation deepens

The banking and financial sectors across the Gulf are experiencing a significant shift in international partnerships, particularly with China. On 15 October 2025, the Gulf Cooperation Council Secretariat (GCC-SG) met with the Governor of the People’s Bank of China, Dr Pan Gongsheng, to review cooperation across financial markets, banking relations and stability frameworks. gcc-sg.org
The meeting underscores the GCC’s intent to deepen its integration into global financial flows beyond the traditional Euro-US axis. Areas of discussion reportedly included joint initiatives for economic and financial partnership, shared expertise exchange, and alignment on standards for sustainable development and global stability.
The timing is notable: as China’s Belt and Road Initiative and broader Asian-Pacific trade networks expand, the GCC is positioning itself as a financial bridge between East and West. As one report noted, trade between China and the GCC could double to US$1.9 trillion by 2035. Reuters+1 For banks in the region, this means opportunity—but also complexity: cross-border payments, foreign currency clearing, sanctions risk and regulatory alignment all come into play.
In practical terms: