UAE – Mubasher: Chinese JOCIC Financial Shareholding Limited (JFSL) has obtained a commercial license in Abu Dhabi Global Market (ADGM), ADGM said in a statement on Monday.
Under the license, JFSL will be working closely with ADGM to support Belt and Road initiative and the growth ambition of Chinese enterprises in the Middle East and North Africa (MENA) region.
The step follows an agreement between ADGM and the China-UAE Industrial Capacity Co-operation Demonstration Zone, “the Demonstration Zone” led by the Jiangsu Provincial Government, in July 2018 to further enhance the China-UAE economic ties and advance mutually beneficial collaborations.
“Today’s event marks a significant milestone in Abu Dhabi’s commitment with China and ADGM’s achievements with the Chinese’ business and financial community. As an International Financial Centre, we remain committed in enhancing the cross-border connectivity and creating new opportunities between the two economies. We will support anchoring more Chinese enterprises in Abu Dhabi and ADGM as part of the Belt and Road ambition,” Richard Teng, CEO of the Financial Services Regulatory Authority (FSRA) of ADGM, commented.
