Abu Dhabi Global Market (ADGM) and Beijing Financial Street Service Bureau have entered into a significant partnership by signing a Memorandum of Understanding (MoU). This agreement aims to enhance financial cooperation between the two entities, fostering greater collaboration and mutual growth in the financial sectors of the UAE and China. The partnership marks a step forward in strengthening international financial ties and unlocking new opportunities for innovation and development.

The agreement, signed during Abu Dhabi Finance Week 2024 on the sidelines of the UAE-China Investment Summit, aims to enhance collaboration in international development and industry promotion, bolstering the growth of both Beijing Financial Street and ADGM.

The MoU was announced by Zhang Yiming, China’s Ambassador to the UAE, who highlighted the UAE’s critical role as a gateway for Chinese enterprises in the Middle East and the deepening trend of mutual cooperation. Zhang emphasized the agreement’s importance in strengthening bilateral ties and fostering closer financial integration between Abu Dhabi and Beijing.

The partnership builds on a longstanding relationship that began in September 2018 with the first MoU between the Beijing Financial Street Service Bureau and ADGM’s Financial Services Regulatory Authority.

This collaboration was further solidified in August 2024, when Liu Dongwei, Mayor of Beijing’s Xicheng District, led a delegation to Abu Dhabi, resulting in a consensus to deepen ties.

“This collaboration leverages the unique strengths of both parties,” said  Lu Wuxing, Director General of Beijing Financial Street Service Bureau. “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, added, “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.”