Ahmad Ali Al Sayegh, Minister of State and chairman of the ADGM
Ahmed Ali Al Sayegh, Minister of State (UAE) and Chairman of ADGM, Image Credit: Gulf News Archives

Dubai: In presence of His Highness Shaikh Mohammed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces and Xi Jinping, President of China, Abu Dhabi Global Market (ADGM) announced key collaborations and ties with strategic Chinese institutions during the state visit.

The new partnerships and agreements are with the National Development and Reform Commission (NDRC), China National Nuclear Corporation (CNNC), and China Everbright Group.

On the same day at the UAE-China Economic Forum in Beijing, ADGM also entered a new agreement with OneConnect Financial Technology (a subsidiary of Ping An group) to foster greater cross-border FinTech opportunities in support of the Belt-and-Road initiative.

These collaborations demonstrate ADGM’s commitment in reinforcing the positive China-UAE economic ties and supporting mutually sustainable projects between the two countries. These newly inked developments bear testaments to ADGM’s efforts in engaging key Chinese stakeholders since the launch of its China representative office in Beijing slightly over a year ago in May 2018.

Ahmed Ali Al Sayegh, Minister of State (UAE) and Chairman of ADGM, said: “China and the UAE/Abu Dhabi have maintained a deep respect and support of each other for decades. These four collaborations underscore the key industries and sector strengths of both China and Abu Dhabi. As an International Financial Centre and ecosystem enabler, ADGM will continue to create sustainable business and investment opportunities between the two countries and support the development of the Belt-and-Road initiative. We look forward to welcoming and working closely with NDRC, CNNC, China Everbright Group, OneConnect Financial Technology and many more Chinese enterprises to anchor their MENA operations in ADGM and Abu Dhabi.”