Abu Dhabi Global Market signs closer ties with China

Added 18th July 2016

Abu Dhabi’s Financial Services Regulatory Authority (FRSA) has signed two agreements with China to improve collaboration and cooperation.

Abu Dhabi Global Market signs closer ties with China

A memorandum of understanding was signed with the China Securities Regulatory Commission (CSRC) to facilitate cross-border activities and enhance regulatory collaboration.

The memorandum provides a framework to offer assistance, exchange regulatory information and co-operate in the supervision of financial institutions, with respective securities and derivatives markets laws and regulations.

It enables both regulators to work on initiatives, such as joint training and technical assistance, to strengthen high regulatory standards and practices in both markets.

The agreement was signed by Liu Shiyu, chairman of the CSRC, and Richard Teng, FRSA chief executive, in Beijing on 14 July.

It closely follows and complements FSRA’s recent agreement with the China Banking Regulatory Commission (CBRC) in May 2016.

Shanghai Free Trade Zone Authority (SHFTZA)

The Abu Dhabi Global Market (ADGM) and SHFTZA signed a memorandum of understanding in Shanghai on 13 July to foster collaboration and facilitate business developments in their respective markets.

The agreement 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 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.

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About Author

Kirsten Hastings

Senior Reporter

Kirsten is a senior reporter for International Adviser, covering global news stories about the financial services industry. She joined Last Word Media in October 2015 after two years working as a reporter covering the staffing and recruitment industry. Kirsten has a Masters in Financial Journalism from the University of Stirling. 

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