The two-month grace period covers all types of visas, including tourist and expired residency permits
visa and immigration in uae10 hours ago
China and Germany promised on Friday to open their markets wider to each other's banks and insurers, giving Beijing a burst of positive trade news amid conflicts with Washington and Europe.
The two sides affirmed support for a global trading system that other governments worry is threatened by President Donald Trump's "America First" policies. That followed a regular annual meeting between German's finance minister and China's economy czar.
The initiatives reflect Beijing's determination to press ahead with changes aimed at making its state-dominated economy more productive and to reduce reliance on the US market by building commercial ties with other countries. China has tried without success to recruit Germany as an ally in its tariff war with Trump. Berlin expresses support for free trade but Chancellor Angela Merkel has stressed her government is not taking sides.
Delegations led by German Finance Minister Olaf Scholz and China's economy czar, Vice-Premier Liu He, signed agreements to cooperate more closely on financial regulation.
They included no details or commercial commitments, but Liu said Beijing welcomes "more qualified German banks to participate in the opening and innovation of China's financial market."
The two governments support their institutions doing "cross-border business in banking, securities, insurance and other fields," the vice-premier said.
Beijing has promised repeatedly to carry out long-delayed commitments made when it joined the World Trade Organisation in 2001 to open its banking, insurance and securities markets.
The government promised in 2017 to allow full foreign ownership of banks and insurers for the first time but business groups say they need to see details of regulations to know whether those opportunities are worth pursuing.
Chinese regulators have suspended issuing licenses to American companies in finance due to the tariff hikes imposed Trump in the fight over Beijing's technology ambitions.
Beijing also faces pressure over technology from the European Union. The 28-nation trade bloc filed a challenge in the WTO in June to Chinese rules it says hamper foreign companies in protecting and profiting from their own technology.
Friday's talks were "also about advancing multilateral cooperation," Scholz said before the event began. He cited Chinese-German cooperation in the Group of 20 major economies and on Africa, taxation and other issues.
"We want to make further progress," he said.
The two-month grace period covers all types of visas, including tourist and expired residency permits
visa and immigration in uae10 hours ago
Sheikh Mohamed extended his sympathies during a visit to the mourning majlis in Al Ain
uae10 hours ago
According to an official, several people are still feared trapped in the debris
asia11 hours ago
Amateurs Afzaal Ahmad, Parvez Ahmed, and Arbaaz Ahmad shine with an Impressive 89-point performance at the Emirates Golf Club
sports12 hours ago
The Meteorological Organisation that it is closely monitoring what is being circulated on social media
mena12 hours ago
There have been a series of school fires in the country in recent years, many of them which have turned out to be arson
africa12 hours ago
Salama Alfalacy is into realistic art featuring landscapes and wildlife, while Meera Jamal Al Midfa is setting new grounds in performance art and filmmaking
arts13 hours ago
Dubai Police have asked drivers to be extra cautious
transport13 hours ago