Tu Guangshao, the Vice-Mayor of
Shanghai, has spoken during a visit to Guernsey of how his city
would like to use the Island as a role model for the development of
its own financial services sector.
He said that financial services
currently accounted for just 10% of Shanghai's gross domestic
product but it would be seeking to expand this sector in the
"We have much to learn from
Guernsey.......Guernsey will be a very good partner for us,"
said the Vice-Mayor, who added that there would be benefits for
Guernsey as well.
"Guernsey would also like to
find more opportunities elsewhere in the world and in that sense
Guernsey and Shanghai have a lot of complementary areas."
The Vice-Mayor was in Guernsey after
accepting an invitation from Chief Minister Lyndon Trott to extend
a planned trip to the UK by visiting the Island.
The Chief Minister said: "It
was good to meet such a genuine group of people, led by the very
senior and knowledgeable Vice-Mayor Tu. It was a pleasure to engage
with him and his delegation and I am certain that this is the
latest stage of a long and fruitful relationship between us and
Peter Niven, Chief Executive of
Guernsey Finance, said: "The Vice-Mayor was delighted with the
welcome he received in Guernsey and especially from the Chief
Minister. He took a shine to the Island immediately and was
particularly impressed with the infrastructure and expertise of our
"Indeed his comments are a
major endorsement of the Island as a leading international finance
centre. All in all, the visit was a great opportunity to cement our
strengthening relationships between Guernsey and Shanghai
– the major financial services centre in
The Vice-Mayor was joined by Zhang
Yujun, President of the Shanghai Stock Exchange, as well as local
government officials. Their itinerary began with a presentation
about the Channel Islands Stock Exchange (CISX).
The delegation was also able to see
the Island from a different perspective by taking a guided coach
trip around the coast. This was added to the schedule after an
invitation from the Commerce and Employment to set sail onboard the
Sea Fisheries vessel The Leopardess had to be declined due to the
Viewing the Island's coastline
was followed by a tour of the States of Guernsey debating chamber
and outline of the Island's history and constitution by Deputy
Bailiff Richard Collas. The party were then received at Government
House by the Lieutenant Governor Sir Fabian Malbon and his wife
The official engagements were
concluded with a chance for the delegation to meet with the Chief
Minister and other senior politicians and officials; Peter Neville,
Director General of the Guernsey Financial Services Commission
(GFSC); and leading industry practitioners such as Steve Le Page,
Chairman of the Guernsey International Business Association
The Vice-Mayor has already met with
Guernsey representatives three times this year during their visits
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