Regulators based in the United Arab Emirates and China have signed a memorandum of understanding (MoU) to focus on securities and derivatives markets.
The latest MoU will specifically target regulatory co-operation between the two countries.
The MoU was signed by the Financial Services Regulatory Authority (FRSA) of Abu Dhabi Global Market (ADGM) and China Securities Regulatory Commission (CSRSC).
Under the agreement, regulators from both sides will work on regulatory initiatives and cross border activities.
This marks the second agreement between the two regions in quick succession following May’s MOU between the ADGM and the China Banking Regulatory Commission (CBRC) designed to expand areas of co-operations between banks and financial institutions.
“We are very pleased to cooperate with CSRC and believe the concerted efforts from both authorities will serve the long term interests of our respective stakeholders and markets,” said Richard Teng, CEO, FSRA of ADGM.
“The growing economies of both China and the UAE have, and will continue to offer investment opportunities for investors worldwide. With the MOU, we will strengthen regulatory cooperation between both markets to support increasing cross-border activities.”
Regulators in UAE and China strengthen ties
This is the second agreement between the two regions in quick succession.