Representatives from Guernsey Finance visited China last week to
further strengthen relationships in Shanghai and Beijing.
Peter Niven, Chief Executive of Guernsey Finance – the
promotional agency for the Island's finance industry
internationally and Fiona Le Poidevin, Deputy Chief Executive,
spent two days in Shanghai and three days in Beijing.
"This is the first time Fiona has visited China since she
joined us at the end of March and so it was a very good opportunity
for her to see firsthand how we have developed our representation
in the country during the last three and a half years," said
"We have made real progress in increasing awareness of the
Guernsey brand and this is now being assisted by the growing number
of firms with a base in the Island who are establishing operations
in the Far East and in particular, China. It was very useful to
visit the offices of Ogier and IAG in Shanghai as a way to better
understand their businesses and also to be able to offer any
assistance we can provide in dealing with governmental or other
Mr Niven highlighted the meeting with the Chinese banking
regulator, CBRC, as another step on the road to it signing a MoU
with the Island's financial services regulator, the Guernsey Financial Services Commission
(GFSC). It is expected that Vice-Chairman Wang Zhaoxing will
visit Guernsey later this year to sign the agreement.
Mr Niven said: "We have now met CBRC on several occasions
and we had yet further encouraging discussions towards signing a
MoU. In fact, we were told that Vice Chairman Wang specifically
wants to visit Guernsey to complete the signing of the agreement
and we are hopeful that he can find the time so that this can be
completed by the end of the year. This will be an extremely
positive step for Guernsey firms doing business in China and
highlights the strengthening relationships between the two
Mr Niven and Miss Le Poidevin also met with Miss Chen Wen,
Director of European Affairs within the office of Madam Fu Ying,
Vice Foreign Minister in the Chinese Government. They held further
discussions about the proposed student exchange programme which is
due to commence this October with a group from the Guernsey College
of Further Education spending a week at a school in the home town
of Madam Fu Ying, Hohhot, Inner Mongolia.
Mr Niven added: "We have made a number of very good
contacts in China during the past few years and last week's
visit provided a further chance for us to cement relationships in
Shanghai and Beijing across a number of areas and not just finance,
although this remains our primary focus and the outlook from this
trip is very optimistic in terms of attracting business from the
region to Guernsey."
A Guernsey Finance delegation will be visiting Singapore and
Hong Kong at the start of November. This will include promoting the
fact that earlier this year Guernsey companies were given the green
light to list on the Hong Kong Stock Exchange (HKEx) and give
support to local firms such as Ogier, IAG, Nerine and Louvre who
have established offices in Hong Kong and Collas Crill
which has opened up in Singapore.
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