Posted by: Morocco World News

Casablanca Finance City has signed a memorandum of understanding with Beijing’s Xicheng Financial District Development Institution, the public institution responsible for the development of Xicheng Financial District.

After previously signing partnerships with Singapore, London, Luxembourg, Montreal, Paris, Astana, and Busan, CFC is now expanding its cooperation network to more of the world’s major financial centers.

The new partnership will establish sustainable cooperation between the two parties, to promote investment opportunities between the People’s Republic of China, Morocco, and Africa.

Through this memorandum, the two financial business centers hope to encourage the development and sharing of expertise in the context of the internationalization of the Renminbi and the development of the FinTech sector.

Moreover, it aims to consolidate both parties’ efforts to attract financial institutions, holding companies, multinationals, and service providers in Xicheng District and within Casablanca Finance City.

“On the occasion of the 60th anniversary of the establishment of diplomatic relations between China and Morocco, we are honored to sign this partnership to explore cooperation opportunities in China, Morocco and Africa,” said Lu Wuxing, Director of the Xicheng District Financial Development Promotion Center of the Beijing Municipality (XDFDPC).

“We look forward to actively devoting our energy to a friendly and fruitful exchange between our two financial centers in the future,” he added.

As for the CEO of CFC, Said Ibrahimi, he believes “that such cooperation will play a decisive role in promoting business relations between China, Morocco and Africa.”

Casablanca Finance City is an economic and financial hub that aims to attract and encouraging international investors to expand in Africa by offering an integrated ecosystem.

It is managed by the Casablanca Finance City Authority (CFCA), established by the Moroccan authorities in 2010, as a public-private partnership under the leadership of King Mohammed VI.

In 2016, Casablanca Finance City (CFC) received the Economic Francophonie Award in Brussels, as a Moroccan financial center with Pan-African vocation.