ADGM, the leading international financial center, has signed a Memorandum of Understanding (MoU) with Beijing Financial Street Service Bureau during Abu Dhabi Finance Week 2024, on the sidelines of the UAE-China Investment Summit presented by HSBC.
This strategic agreement strengthens the shared commitment to enhancing connections, especially in international development and industry promotion, while driving the growth of both 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.
Salem Mohammed Al Darei CEO – ADGM Authority
“This MoU reflects our shared vision to drive impactful collaboration, paving the way for deeper engagement and unlocking new opportunities between Abu Dhabi and Beijing’s financial ecosystems. It reaffirms ADGM’s commitment to fostering global partnerships and advancing Abu Dhabi’s position as a leading international financial hub.”
Commenting on the partnership, Lu Wuxing, Director General of Beijing Financial Street Service Bureau said that, “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.”
This strategic partnership builds on a strong foundation established in September 2018, when the first MoU was signed between the Beijing Financial Street Service Bureau and ADGM’s Financial Services Regulatory Authority. In August, Liu Dongwei, Mayor of Xicheng District, Beijing, led a delegation to Abu Dhabi, resulting in a consensus to further strengthen bilateral relations.
