Following the launch of its first global office in London in 2016, the Chinese group Shanghai Lujiazui Financial City Authority (SLFCA) is launching its first regional office at the King Abdullah Financial District (KAFD) in Riyadh.
Lujiazui Finance & Trade Zone is the only national-level development zone in China that focuses on finance and trade industries and, situated in Pudong New Area, home to China (Shanghai) Pilot Free Trade Zone, Lujiazui is the premier destination in Shanghai for investors, talents, and innovators.
Supported by eWTPA, the Riyadh office of SLFCA will serve as Shanghai’s principal gateway to Saudi Arabia, operating as an official platform and connecting all market participants from both regions. It will cultivate cross-border partnerships in commerce, technology and finance, and other industries.
The Riyadh office of SLFCA will serve as Shanghai’s principal gateway to Saudi Arabia
Stressing the significance of cross-border partnerships, KAFD DMC Chief Executive Officer Gautam Sashittal said: “Partnerships like eWTPA, along with financial hubs like KAFD and SLFCA, act as catalysts in fostering businesses across borders, creating new avenues for companies to grow and tap into new markets. This strategic agreement will pave the way for meaningful engagement in the days ahead and ensure smooth working relationships for individuals and businesses alike.”
Founder and Managing Partner of eWTPA, Jerry Li, said the partnership holds huge importance for Riyadh and Shanghai, offering the potential to generate substantial value: “Shanghai aims to utilize its expertise to support Saudi Arabia in achieving its Vision 2030. In return, Saudi Arabia will view this newly established office as an entryway to gain insights into and further tap into China’s thriving industries, including commerce, technology, and finance.”
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