Abu Dhabi Global Market (ADGM), an international financial center, opened its representative office in China. It became the first foreign branch of the center. The purpose of its work is oriented at attracting more companies providing financial services from the state.
The reason for the opening of a representative office in China is that to date there has been a large influx of Chinese companies into the UAE. Chinese brokerage and financial companies are already represented in ADGM, but now the main task is to continue this trend.
The UAE is the main focus of Chinese investment in the Middle East region. In the framework of the creating development of bilateral cooperation, an investment fund amounting to $ 10 billion was created.
ADGM’s Chinese office will continue to operate its head office and act as a regulator of financial services. It has the aim to support Abu Dhabi’s desire to strengthen cooperation with the Chinese government and companies in regulation and finance.
The Chinese office will work on creating new projects and coordinating the striving from both sides to develop bilateral relations, and opening up new prospects for cooperation for the two economies.
The presence of ADGM in China reflects the UAE’s interest in implementing the One-Way initiative aimed at developing economic cooperation. Particular attention in this strategy is paid to infrastructure, trade and investment, the course to cooperation and coordination.
Several UAE companies made big investments in Chinese projects, and different Chinese companies are ambitiously involved in the development of the energy, construction and trade industries in the UAE.
China regards the United Arab Emirates as a good friend and partner in the Persian Gulf, strives to improve the level of relations of strategic partnership with the UAE.
The Chinese side is set for new achievements in cooperation with the UAE in energy, infrastructure, trade, investment and space exploration, which is in the interests of achieving mutual benefits, common gains and joint development.
China is ready, together with the UAE, to make joint efforts to turn the Asian Bank for Infrastructure Investments into a mutually beneficial platform for financing infrastructure projects in order to promote regional economic development.
The UAE is striving to strengthen the relations of strategic partnership with China, expand investment in its economy and intensify cooperation with China in infrastructure construction. The UAE also intends to expand cooperation with China in the development of renewable energy sources, scientific and technical and aviation spheres.