President Xi Jinping and United Arab Emirates Crown Prince Mohammed of Abu Dhabi jointly witnessed the exchange of the "Memorandum of Understanding on Trilateral Cooperation" between the China-Arab Production Capacity Cooperation Demonstration Park and ICBC and Abu Dhabi Ports Company

   On the morning of July 22, under the joint witness of President Xi Jinping and Mohammed, Crown Prince of Abu Dhabi of the United Arab Emirates, Chairman Farah of Abu Dhabi Port Company, Chairman Chen Siqing of Industrial and Commercial Bank of China and Chairman Wang Bin of CJI formally exchanged the "Memorandum of Understanding on Tripartite Cooperation" at the Great Hall of the People.
   The signing of this cooperation memorandum marks the further enrichment and improvement of the banking service system of the financial service platform of the China-Arab Production Capacity Cooperation Demonstration Park. In the future, ICBC Abu Dhabi Branch and Jiangsu Province Branch will form an internal and external linkage pattern to provide comprehensive financial services including multi-currency settlement, global network custody, cash management, financing consulting, etc. to the China-Arab Production Capacity Cooperation Demonstration Park and enterprises in the region.
Following the exchange of the Financial Service Platform Framework Cooperation Agreement for the China-Arab Production Capacity Cooperation Demonstration Park jointly witnessed by President Xi Jinping and the leaders of the United Arab Emirates in July 2018, the leaders of the two countries once again witnessed the exchange of financial cooperation agreements in the demonstration park one year later, which fully reflects the great importance and ardent hope of the two countries for the construction of the financial service platform of the China-Arab Demonstration Park.
   Over the past year, in accordance with President Xi Jinping's proposal,"China supports the establishment of a financial platform for production capacity cooperation, expands diversified investment and financing channels around the construction of industrial parks, and promotes the three-in-one development of park services, enterprise growth, and financial support." Important instructions require that Jiangsu Haitou Company, the investor entity of the China-Arab Demonstration Park, carefully plan and dig deep into demand, focus on the actual needs of the enterprises entering the park, and actively provide various financial services, and explore and start Self-operated business and initially clarify the three main business lines of equity investment funds, financial leasing and asset management.
   At present, Jiangsu Haitou Company has started the establishment of domestic and overseas funds, investing in enterprises entering the park based on market-oriented principles, effectively expanding the supply of core capital of enterprises, and improving the bargaining power of enterprises in cross-border financing. At the same time, in order to alleviate the initial financial pressure of enterprises entering the park, the financial leasing business has also completed preliminary preparations in United Arab Emirates and is about to be implemented.
   In the future, the financial service platform of the China-Arab Production Capacity Cooperation Demonstration Park will gradually expand its business to a larger scope based on serving enterprises entering the park, explore the integrated development of "Belt and Road" production capacity cooperation and financial integration, and strive to create a comprehensive "Belt and Road" financial service provider to help the "Belt and Road" financial service innovation breakthroughs.