Dubai: Dubai Worldwide Monetary Centre (DIFC) has signed a Memorandum of Understanding (MOU) with Jiaozi Fintech Dreamworks, certainly one of China’s first Fintech innovation and entrepreneurship platforms.
The MOU will allow the DIFC to additional help the UAE in facilitating the ‘Belt and Road’ financial initiative and types a central a part of the Centre’s 2024 technique to strengthen relationships with the worldwide monetary neighborhood and improve entry to the South-South hall.
Based mostly in Chengdu, capital of Sichuan Province and certainly one of China’s rising worldwide monetary centres. Chengdu has an necessary fame on this planet of finance having reportedly been the primary place on this planet to introduce paper bank notes.
Jiaozi Fintech Dreamworks was launched in 2016 below the rules of the Folks’s Bank of China, the nation’s central bank and the native finance bureau. Fintech Dreamworks is on monitor to change into residence to over 300 FinTech corporations and 10,000 workers, occupying an area of greater than 100,000 sq. metres. Well-known enterprises have settled in Jiaozi Fintech Dreamworks.
The MOU signed by Arif Amiri, CEO of DIFC Authority, and Wang Juan, Chairperson of Jiaozi Fintech Dreamworks, will allow FinTech corporations based mostly in each jurisdictions to learn from a wealth of mutually useful alternatives, in addition to entry to respective markets.
“Chengdu continues to emerge as a leading financial centre in western China and there are vast opportunities for global FinTech firms to scale in China. In the same way that DIFC is the gateway to the Middle East, African and South Asia, Chengdu can become the equivalent for accessing China and broader Asia region,” stated Arif Amiri, Chief Government Officer of DIFC Authority.
“Sharing expertise and enabling our FinTech firms to work together presents opportunities and builds a collective force for accelerating the FinTech agenda in Dubai and China.”
DIFC stated the centre is wanting ahead to collaborating with Jiaozi Fintech Dreamworks on key sectors akin to Blockchain, Synthetic Intelligence, Massive Information and Cloud Computing.”
“Dubai and DIFC in particular, continues to be the jurisdiction of choice for Chinese firms looking to access the potential of the fast-growing emerging markets in the MEASA region. With a robust Chinese ecosystem including the regional headquarters of China’s four largest banks, we are confident that our agreement will be benefit the Jiaozi Fintech Dreamworks community by helping them tap into new opportunities,” stated Wang Juan, Chairperson of Jiaozi Fintech Dreamworks
DIFC continues to see development within the variety of Chinese language corporations working from the Centre. In addition to being the regional residence to China’s 4 largest banks; ICBC, China Building Bank, Bank of China, and Agricultural Bank of China, DIFC can be residence to a number of giant Chinese language companies and FinTech corporations which can be tapping into MEASA markets and dealing with native establishments on the Belt and Street initiative.