Tuesday 01 December 2020 - 3:36:40 pm

ADGM established close partnerships with over 100 Chinese leading institutions: ADGM chief


ABU DHABI, 1st October, 2020 (WAM) -- Ahmed Ali Al Sayegh, Minister of State and Chairman of Abu Dhabi Global Market, ADGM, has extended warm congratulations to China on its 71st National Day, wishing China and its people many more decades of prosperity and triumph on this momentous occasion.

"I would like to extend my sincere congratulations to the leaders and citizens of the People's Republic of China on their 71st National Day. China's development, transformation, and growth across the last seven decades have significantly benefitted its people, the wider continent and the globe. For many decades, China and the UAE have continued to reinforce each other in the development of both economies and in fostering the strong bilateral relations between Asia and the Middle East,'' said Ahmed Ali Al Sayegh in a statement on the occasion.

''As an International Financial Centre and Financial Services Regulator, ADGM supports the UAE’s growth strategy and bolsters Abu Dhabi’s ongoing collaborations with the Chinese government and financial and the business community. The establishment of the ADGM’s first cross-border representative office in Beijing in May 2018 reinforces our active role in facilitating bilateral trade, investment and cooperation with China through strategic initiatives and activities. ADGM is also the first regulator in the Middle East to receive such approval from the People’s Bank of China to operate the country. We are pleased to support Chinese enterprises as they look to leverage ADGM’s unique business ecosystem to establish a presence in the UAE and wider region,'' he added.

He affirmed that ADGM has, and will continue to work alongside relevant authorities to advance the Belt and Road Initiative connecting Asia, Europe and Africa, to increase global cooperation.

Since its inception in 2015, ADGM has established close partnerships and collaboration with over 100 of China’s leading authorities and institutions, including the People's Bank of China, the China Banking Regulatory Commission, the China Securities Regulatory Commission, National Development and Reform Commission, Shanghai Free Trade Zone, Qianhai Authority, the State Administration of Foreign Exchange, Chinese Jiangsu Provincial Overseas Cooperation and Investment Company, Shanghai Stock Exchange, China Everbright Group and China National Nuclear Corporation, among others.

"These partnerships serve as a key enabler of ADGM’s efforts to accelerate international activities, business expansion and regulatory collaboration between Abu Dhabi, the UAE and China," he concluded.

 

WAM/Tariq alfaham/MOHD AAMIR