Abu Dhabi Global Markets (ADGM), the emirate’s international financial centre, has opened its first overseas office in Beijing.
According to the ADGM, the Beijing branch is a demonstration of the UAE’s international growth strategy and ambition to forge closer ties with China.
In particular, the ADGM hopes that greater regulatory collaboration and cross-border connectivity between the two countries will help to augment China’s Belt and Road development initiative.
In addition, the ADGM China office will also be looking to support China’s efforts to internationalise its currency and to establish Abu Dhabi as an offshore renminbi centre for the Mena region.
“We look forward to bolstering the long-term financial and investment needs and interests of the UAE and China,” said ADGM chairman H.E. Ahmed Al Sayegh.
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