UAE, Chinese financial centers ink MoU

A memorandum of understanding (MoU) was signed to promote the development of financial centers in the United Arab Emirates (UAE) and China, a statement by the UAE side said Saturday.

Inked between UAE free zone Abu Dhabi Global Market (ADGM) and the Beijing Financial Street Services Bureau, the MoU "marks a continuation of ADGM's commitment to the Belt and Road Initiative," said ADGM's statement.

The new MoU provides a formal platform for greater bilateral cooperation in areas including the development of financial centers in both countries, investment facilitation, joint research and closer exchange of information, the statement added.

In 2017, bilateral trade between the UAE and China reached 41 billion U.S. dollars, up 1.1 percent year on year.

Over 4,000 Chinese companies are now operating in the UAE, contributing significantly to the local economy.

Editor: Dong Ping
Today’s Recommendations

Xi, Putin vow to promote ties regardless of global changes

Chinese President Xi Jinping and his Russian counterpart, Vladimir Putin, expressed their firm determination to promote bilateral ties and safeguard world peace and stability during their talks here on Tuesday.【detailed】

New UK parliamentary group seeks to boost Belt and Road cooperation

A new UK parliamentary group for the Belt and Road Initiative and China-Pakistan Economic Corridor was launched on Monday to advance China-UK cooperation.【detailed】
Related Stories