An Abu Dhabi economic delegation, led by the Abu Dhabi Department of Economic Development (ADDED), concluded a visit to China, securing agreements to enhance cooperation between government entities and private sector companies in both regions.
The visit included signing a strategic cooperation agreement between the Abu Dhabi Government and the Shanghai Municipal People’s Government, covering business, trade, finance, technology, education, health, tourism, and ports. The Foreign Affairs Office of the Shanghai Municipal Government and ADDED will oversee the agreement’s implementation, aligning with bilateral commitments between China and the UAE.
During the six-day visit, the delegation engaged in bilateral meetings with top Chinese officials, including Chen Jining, Politburo Member and Party Secretary of Shanghai; Yin Yong, Mayor of Beijing; Gong Zheng, Mayor of Shanghai; and John Lee, Chief Executive of Hong Kong. The delegation also held discussions with executives from major Chinese firms such as ByteDance, Xiaomi, BYD, CICC, and CATL.
Bilateral trade between the UAE and China has grown from $2 billion in 2000 to nearly $100 billion in 2023. Trade between the two countries reached $74.5 billion in the first nine months of 2024 and is projected to rise to $200 billion by 2030. Chinese investments in the UAE increased by 16%, while UAE investments in China grew by 120%. The number of Chinese companies registered with the Abu Dhabi Chamber of Commerce and Industry increased by 69.4% in 2024.
The Abu Dhabi Investment Forum (ADIF) in Beijing and Shanghai attracted Chinese investors seeking opportunities in Abu Dhabi’s business ecosystem. Abu Dhabi Investment Office (ADIO) and Abu Dhabi Global Market (ADGM) signed agreements with Fosun International, Hejun Group, Wind Information, and Yicai to promote investment intelligence, support Chinese businesses’ international expansion, and deepen economic ties.
The Abu Dhabi Chamber of Commerce and Industry (ADCCI) signed a strategic cooperation agreement with the Shanghai Federation of Industry and Commerce to promote bilateral trade and investment. The Abu Dhabi-Shanghai Business Forum, organised by ADCCI, facilitated discussions between businesses from both regions, providing a platform for trade and investment partnerships.
