The UAE and the People's Republic of China finalized a strategic agreement under which a $10 billion «Joint Strategic Investment Fund» was launched to enhance economic and political cooperation between the two countries, in the Great Hall of the People in the presence of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces and Chinese President Xi Jinping.

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Sheikh Mohammed bin Zayed Al Nahyan said that the establishment of the UAE-China Strategic Investment Fund reflects the growing partnership between the United Arab Emirates and the People's Republic of China, pointing out that the strong foundations of cooperation between the two countries are based on growing economic ties and deep political relations.

Sheikh Mohammed bin Zayed Al Nahyan said.

Xi Jinping said the fund, which is flexible in terms of investments, will contribute to strengthening and deepening the strategic and economic ties between the two countries.

He emphasized that the fund will play a pivotal role in supporting the "One Belt, One Road" strategy, adding, "We are going to strengthen communication and cooperation with our regional partners and across Europe and Asia."

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Since the inauguration of official diplomatic relations between the UAE and China in 1984, trade between the two countries has grown from 63 million dollars in 1984 to 54.8 billion dollars currently, and is expected to increase to 60 billion dollars by the end of this year.

He stressed that the fund will play a pivotal role in supporting the "One Belt, One Road" strategy.