Abu Dhabi – Mubasher: Abu Dhabi Global Market (ADGM) and Shanghai Free Trade Zone Authority (SHFTZA) signed a Memorandum of Understanding (MOU) in Shanghai to foster collaboration and facilitate business developments in their respective markets.
The MOU establishes a formal framework for further collaboration between the two organisations and reinforces ADGM’s commitment to build stronger ties with global financial centres. Apart from sharing of information and expertise, SHFTZA and ADGM will also consider joint activities to enhance the development of the financial centres of Abu Dhabi and Shanghai Free Trade Zone.
The MOU was signed by Guo Yusong, Department Director, Fiscal and Financial Services of SHFTZA and Richard Teng, Chief Executive Officer, Financial Services Regulatory Authority of ADGM.
The MOU marks another milestone between China and Abu Dhabi in strengthening economic cooperation, said Richard Teng.
