Belt and Road Initiative

China will be setting up a state-owned financial service firm in United Arab Emirates (UAE) Abu Dhabi's financial hub. This firm will provide lending facilities to Chinese companies operating in the emirate's industrial zone. Abu Dhabi Global Market (ADGM) stated that the company has been approved by its Financial Services Regulatory Authority for conducting the regulated activities of offering and arranging credit through the ADGM platform. According to the reports, the firm aims to provide strategic investment and financial assistance to Chinese enterprises as a part of the Belt and Road Initiative. East China's Jiangsu provincial government-owned ‘The Industrial Capacity Co-operation Financial Group Limited’ (ICCFG) will be the very first of such Chinese financial services firm...

China has signed a contract regarding trade deals with the member countries of its enterprising 'Belt and Road Initiative'. As reported by the Chinese Ministry of Commerce, the deal worth USD 390 billion has been signed in the first four months of this year. The Belt and Road Initiative (BRI) is an expansion programme initiated in 2013 by the Chinese government the objective of which is to maintain connectivity and cooperation between Eurasian countries. The BRI's aim is to build trade and infrastructure networks linking economies around the whole world along the ancient Silk Route. At present, over 100 countries and international organizations have supported and became a part of this initiative. Gao Feng, the commerce ministry spokesperson confirmed the news and quoted,"China and coun...

Tag: Belt and Road Initiative

China To Set Up a Financial Firm in UAE’s Abu Dhabi

China Signs a Deal worth $390 billion with Belt and Road Countries