At the invitation of President Xi Jinping, Crown Prince Mohammed of Abu Dhabi of the United Arab Emirates paid a state visit to China on July 21 and 23. On July 22, in the presence of leaders of both sides, Abu Dhabi International Financial Center signed a memorandum of understanding (MOU) of cooperation with China's National Development and Reform Commission, China Everbright Group and China National Nuclear Corporation. In addition, Abu Dhabi International Financial Centre has also signed a memorandum of cooperation with the One Account and the Beijing Municipal Local Financial Supervision Authority.
On the afternoon of 24th, Deng Weizheng, CEO of the Financial Services Regulatory Authority of Abu Dhabi International Financial Center, introduced to the reporter of the People's Daily Online the content and milestone significance of the newly signed memorandum of cooperation.
Deng said that since the establishment of the China office in the Abu Dhabi International Financial Center, he has been committed to strengthening the positive economic ties between China and the UAE and supporting the sustainable cooperation between the two countries. We will deepen cooperation in institutions, capital, finance and human resources under the framework of the China-Arab comprehensive strategic partnership for common development and the orientation to the future, and help high-quality Chinese fintech enterprises set up in Abu Dhabi.
According to Deng Weizheng, ABU dhabi international financial center will work with China's National Development and Reform Commission to encourage and support the Chinese advantage production enterprises to carry out the investment depends on good relations between the two countries in the united Arab emirates (uae), encourage and support Chinese enterprises to actively participate in ABU dhabi of conditional international financial center construction, build radiation "area" of the Middle East and north Africa investment and financing center, We will better serve major institutions and projects of our two countries and implement major cooperation strategies and initiatives.
In cooperation with China everbright group co., LTD, ABU dhabi international financial center will support China everbright group in ABU dhabi for strategic fulcrum, in the united Arab emirates and the Middle East and north Africa region actively explore to build "area" under the framework of "finance + + industry overseas market" of national and regional financial cooperation production mode, We will set up "One Belt And One Road" themed investment funds, carry out investment and financing activities for major projects, and provide all-round high-quality products and services to customers in China, Afghanistan and the Middle East and North Africa markets.
Abu Dhabi International Financial Center will also fully support China National Nuclear Corporation to establish an Abu Dhabi capital and investment and financing center, carry out global capital management, investment and financing work, explore overseas "industry and finance" innovation, layout of the global capital market.
In ABU dhabi in the support of the international financial center, one zhang tong financial technology co., LTD will set up a base in ABU dhabi, consolidate and expand one zhang tong and its related entities in the Middle East and north Africa region and along the "area" financial services and financial business science and technology, build the financial ecosystem of science and technology as well as cross-border payments and trade ecosystem.
According to the memorandum of cooperation with local financial supervision and administration in Beijing, the two sides will work to strengthen and promote financial market regulation, and actively promote the ABU dhabi with Beijing's leading financial institutions in investment management and wealth management, financial technology, depth of cooperation in the field of sustainable financial (green financial), leading the international financial institutions to enter the Chinese market in the Middle East and be born in Beijing, It will also promote technological innovation and high-end production capacity export of Beijing enterprises to Abu Dhabi, and deeply participate in high-end infrastructure upgrading and construction in Abu Dhabi.
Deng Weizheng explained to the People's Daily Online the vision of the Abu Dhabi International Financial Center, which is to build a "One Belt And One Road" investment and financing center covering the Middle East and North Africa, serving important institutions and major projects of China and Afghanistan. China will build an offshore RMB center that extends to the Middle East and North Africa to help internationalize the RMB and promote economic and financial cooperation between the two countries.
When asked about the advantages of Abu Dhabi International Financial Center compared with other financial centers, Deng Weizheng said that the Middle East region needs more financial centers, and Abu Dhabi is striving to build a wealth management center, rather than a traditional wealth center. Compared with other financial centers, Abu Dhabi International Financial Center has three advantages; First, the UAE has political stability and sufficient capital. Second, there are no restrictions on the entry and exit of foreign exchange and foreign nationals. Third, zero corporate tax, no personal income tax and other preferential tax policies in the first 50 years.
Deng said that in the process of building the "Belt and Road", China and the "Belt and Road" participating countries have a lot of docking needs in commercial banking, private finance, wealth management and other aspects, Abu Dhabi International Financial Center will be the best choice for relevant enterprises.
