Abu Dhabi, Shanghai plan exchange focusing on China trade | ZAWYA MENA Edition

Abu Dhabi, Shanghai plan exchange focusing on China trade | ZAWYA MENA Edition:

"Abu Dhabi Global Market (ADGM), the emirate's international financial centre, has agreed in principle with the Shanghai Stock Exchange to cooperate in establishing an exchange focusing on China's foreign trade and investment, ADGM said on Monday. The partners signed a memorandum of understanding to develop the exchange in Abu Dhabi. It would cater to companies and investors involved in China's Belt and Road initiative, a Beijing-backed drive to win trade and investment deals along routes linking China to Europe. "At ADGM, we have the international platform to serve different kinds of enterprises and investors - global, regional and local - seeking exposure to the Middle East and North Africa and Belt and Road projects,” said Richard Teng, chief executive of ADGM's Financial Services Regulatory Authority. "



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