This type of institution has been introduced more with the implementation of the BIS in the Gulf. For example, China has entered into agreements with uae financial supervisory authorities to facilitate inter-regional activities and develop regulatory partnerships to facilitate the activities of Chinese companies and financial institutions in the Gulf region. Together with Saudi Arabia, the CCP established a high-level joint committee in 2016 with six subcommittees for the BIS. In addition, in April 2018, the Shanghai Stock Exchange signed an agreement with the Abu Dhabi Global Market (ADGM) to develop an institutional platform known as the Belt and Road Exchange in the United Arab Emirates. It aims to support Chinese investors and companies in the Gulf region. Although there are no details to date on which the new exchange could be traded or when it could be opened, they explained that it was created to help Chinese companies finance investments made under the BIS. Last February, the Qatar-China Economic Forum was organized by the Chinese Ministry of Commerce in Beijing. The aim of the conference was to strengthen joint cooperation, promote bilateral relations on trade, investment and labour. The prospects for new partnerships between the two countries were also discussed. The forum, which was attended by representatives of Qatar and China, as well as businessmen, policy makers, investors and business leaders, resulted in an agreement between the two countries to strengthen relations. The first of these institutions is the Forum for Cooperation between China and arab States, established in 2004, which, according to the CASCF Declaration and the CasCF Action Plan, serves as a platform for the negotiation of China`s engagement with Arab states, including the Gulf countries. It holds meetings every two years in China or in one of the Arab countries.
One of its most significant and recent initiatives is the “1/2-3” cooperation model, which defines the framework for the Sino-Gulf interaction. In this context, energy is the fundamental factor in the relationship; Infrastructure, trade and finance are the second component (“2”); and all three relate to the new high-tech industries of nuclear technology, space, satellites and new energy (“3”). BEIJING, May 16 (Xinhua) — Chinese Vice President Li Yuanchao on Tuesday called on China and the Gulf Cooperation Council to speed up negotiations on free trade agreements (FTA).