Abu Dhabi, China Partner to Promote FinTechbr>
The United Arab Emirates (UAE) and China are collaborating on FinTech development and investment opportunities in both countries.
The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has partnered with the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, Qianhai Authority, to develop and promote closer investment, financial innovation opportunities, and collaborations for enterprises in Qianhai, Hong Kong, and Abu Dhabi. The partnership is part of China’s One Belt/One Road economic ambition.
ADGM’s financial services regulatory authority chief Richard Teng said that ADGM aims to further bolster financial services activities, facilitate investment flows, and encourage business innovation.
He added that ADGM plays a vital role in strengthening the financial forte of Abu Dhabi and provides the strategic link that connects businesses, investors, and stakeholders to investment and growth opportunities in the Middle East and North African markets.
“I look forward to the close collaboration between the two teams to maintain the high regulatory practice in our markets, as well as to introduce joint initiatives that will expeditiously open up opportunities for our investment and business communities,” said Teng.