China’s financial city authority opens office in Saudi capital

Shanghai Lujiazui Financial City Authority (SLFCA), Riyadh’s King Abdullah Financial District (KAFD), and eWTP Arabia Capital, a Saudi investment company, signed an MoU to boost cooperation between the financial hubs of Shanghai and Riyadh. According to the deal, SLFCA is to set up an office in KAFD. Additionally, eWTP signed a strategic agreement with SLFCA to establish an investment platform to create synergies in finance, commerce, innovation, and technology, encouraging more substantial business, capital, and talent exchanges between China and Saudi Arabia.