Development

Chengdu, Dubai sign financial services MOU

(chinadaily.com.cn)
Updated: 2011-06-24 16:08

Chengdu Financial Park and the Dubai International Financial Center signed a Memorandum of Understanding (MOU) on June 16 to promote potential financial services partnerships.

The MOU calls for strengthened communications and information exchanges between financial supervision institutions and relevant government organs between Chengdu and Dubai, one of the seven emirates of the United Arab Emirates.

Chengdu, an inland city in Southwest China, became a member of the Dubai International Financial Center, joining members Luxembourg, Paris, Hong Kong, Madrid and Seoul. Chengdu is the first inland Chinese city to cooperate with the Dubai International Financial Center.

In March, a Chengdu delegation visited the Dubai financial center to build a preliminary framework for financial cooperation between the two parties. The MOU calls for information sharing, project cooperation, personnel training and exchanges.

A senior Chengdu government official said the MOU is a significant step toward speeding up the city's progress in building itself into a financial center for West China and to make the city an international financial industry base.