ADGM, the international financial centre, signed a Memorandum of Understanding (MoU) with Beijing Financial Street Service Bureau.
As explained in the update, this latest agreement reinforces the commitment to fostering connections, particularly in the areas of international “development and industry promotion, further advancing the growth of Beijing Financial Street and ADGM.”
The MoU signing, formally announced by Zhang Yiming, Ambassador of China to the UAE, highlighted the UAE’s role as a “gateway for Chinese enterprises in the Middle East and the growing trend of two-way collaboration.”
Zhang emphasized the significance of this agreement in enhancing bilateral exchanges and fostering “stronger ties between Abu Dhabi and Beijing’s financial ecosystems.”
This partnership builds on a strong foundation established in September 2018, when the first MoU was signed between Beijing Financial Street Service Bureau and ADGM’s Financial Services Regulatory Authority.
In August 2024, Liu Dongwei, Mayor of Xicheng District, Beijing, led a delegation to Abu Dhabi, resulting in a “consensus to further strengthen bilateral relations.”
Lu Wuxing, Director General of Beijing Financial Street Service Bureau, said
“This collaboration leverages the unique strengths of both parties. Through platforms like the Financial Street Forum and Abu Dhabi Finance Week, we aim to enhance industry exchanges, encourage cross-border business establishment, and drive the coordinated development of Beijing as a National Financial Management Center and Abu Dhabi as an International Financial Center”.
Salem Al Darei, CEO of ADGM Authority, said the MOU will drive impactful collaboration paving the way for new opportunities:
“It reaffirms ADGM’s commitment to fostering global partnerships and advancing Abu Dhabi’s position as a leading international financial hub.”
