First state-owned Chinese financial firm sets up in Abu Dhabi

21/07/2018 (ArabianBusiness – UAE): Abu Dhabi Global Market (ADGM) has announced the establishment of the first Chinese state-owned financial services firm to provide investment and financial support to Chinese enterprises as part of the Belt-and-Road initiative. The state-owned financial services firm, known as the Industrial Capacity Cooperation Financial Group Limited (ICCFG), is the first such Chinese company to be approved by the Financial Services Regulatory Authority of ADGM, to provide and arrange credit via the ADGM platform. The firm, which is expected to be up and running by the end of 2018, is set to manage about $2 billion of investment. It also intends to scale up its services and presence in other Belt and Road-related industrial capacity zones in the near future…

https://www.arabianbusiness.com/banking-finance/401155-wkd-first-state-owned-chinese-financial-firm-sets-up-in-abu-dhabis-financial-hub

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