The British Private Equity & Venture Capital
Association's Channel Islands Working Group (BVCA CIWG) was
also a signatory to the MoU and will enjoy the benefits that come
with closer ties.
The agreement, which was signed at CAPE's Beijing offices
earlier this month by CAPE's Secretary-General, Li Weiqun, and
Guernsey Finance's Director of International Business
Development, Kate Clouston, on behalf of GIFA and the BVCA CIWG,
sets out a statement of intent to facilitate collaboration in the
areas of training, corporate governance, events, research and
public affairs. It is hoped that by developing strong ties the
three representative organisations will be able to share expertise
and bring long-term benefits to their respective members.
"I was absolutely delighted to represent Guernsey for this
important commitment to work with CAPE," said Miss
"We couldn't have had a warmer welcome and it is
wonderful to experience first-hand the dynamic energy in the
Beijing private equity and venture capital space at the moment. The
industry is developing at lightning speed and we feel Guernsey is
perfectly placed to offer expertise gained through our 50-year
finance industry history and to develop a standout offering suited
to the multinational viewpoint required in global business
Guernsey Finance's Asia Representative, Wendy Weng, first
met Secretary-General Li three years ago. Since then, Mrs Weng and
Guernsey Finance have been working with CAPE to facilitate greater
cooperation between the two jurisdictions.As a national association
for the private equity and venture capital industry in China, CAPE
has been playing a leading role in promoting and supporting the
industry across the country and region. Approximately 15
representatives of the CAPE membership attended the signing, which
was opened by a welcome from Secretary-General Li, while Miss
Clouston was able to share an introduction in Mandarin on
Guernsey's finance industry that included more specific details
on the Island's funds industry and Guernsey's
well-developed ties with China.
Following the signing of the MoU and the exchanging of gifts,
which symbolised friendship and the commitment to work together,
Mrs Weng gave a presentation on fund structuring options in
Guernsey that included the recent China Cinda Finance (2014) II listing on the
Channel Islands Securities Exchange (CISE) - the first ever
Chinese issuer listing on the CISE. Vivien Zou of the Augentius
Hong Kong office then highlighted the many ways fund administration
can add value to clients and presented examples of ways this could
be done using Guernsey structures.
GIFA and BVCA CIWG Chairman Andrew Whittaker said: "GIFA
and the BVCA Channel Islands Working Group welcome the
establishment of a framework for mutual assistance with CAPE. Our
funds industry, particularly the private equity and venture capital
space, has considerable expertise and substance to call upon which
we are more than happy to share with our counterparts in China.
We know there is significant interest in China and Asia
generally in doing business with Guernsey and we hope that this MoU
will help to facilitate those business flows, while also bringing
long-term benefits to all three sets of our members as we work
GIFA was established in 1989 as a trade association to represent
Guernsey's growing fund management community and its membership
spans the whole spectrum of Guernsey's investment community.
The BVCA CIWG was launched in 2014 in order for the BVCA to be
better informed on strategy concerning private equity and venture
capital issues specific to Guernsey and Jersey.
Miss Clouston added: "The information on Guernsey was very
well-received by those in attendance and we have no doubt this will
greatly assist all parties involved in developing our respective
industries and international presence. The MoU also provides a
signal to the rest of the Asian market that Guernsey is a respected
domicile for investment fund business and one that is happy to
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