Practitioners from Guernsey's fiduciary sector are reporting
that business opportunities for them in the Asian market are better
than ever following the Island's latest delegation to the
A team of officials and industry leaders from Guernsey's
finance industry have recently returned from a three-centre visit
to Singapore, Hong Kong and Shanghai.
Peter Niven, Chief Executive of Guernsey Finance – the
promotional agency for the Island's finance industry, said:
"The delegation was extremely valuable. Not only have we made
progress establishing the Guernsey brand in Singapore and Hong Kong
but in Shanghai particularly we really made significant strides at
reinforcing our growing presence in the market."
It was in Shanghai that Guernsey's Chief Minister, Lyndon
Trott, was a keynote speaker at the opening of the 6th
China International Finance Forum, highlighting to delegates that
Guernsey is a leading international finance centre which meets the
highest standards of transparency and regulation.
The delegation's time in the city also included the official
opening of the new premises for the Guernsey representative office,
where the Chief Minister and Dr Fang Xinghai, Director General,
Shanghai Municipal Financial Services Office, unveiled a plaque to
mark the occasion.
There was also a half-day conference showcasing why Guernsey is
ideally positioned to provide offshore investment fund and wealth
management solutions to the Chinese market. This was attended by
more than 80 professionals from the Shanghai finance services
industry, including lawyers and accountants. Speakers included
Jonathan Hooley, Chairman of the Channel Islands Stock Exchange
(CISX) and External Affairs Adviser to the States of Guernsey; and
Mark Whiteley, Guernsey Registrar of Companies.
In addition, the delegation included meetings with the Shanghai
Stock Exchange, the British Consulate and more local industry
Guernsey finance industry practitioners that were part of the
visit to Shanghai included representatives from the Trident,
Richmond and Louvre groups, as well as law firms Ogier and Collas
Day and accountants Deloitte and KPMG.
Mr Niven added: "The firms from Guernsey's finance
industry that came with us on the delegation are all saying that it
is has provided them with the ideal opportunity to either make new
contacts or develop existing relationships. Indeed, such has been
our success that not only have they found the meetings extremely
useful but they believe there is the prospect of some early
The delegation kicked off with Guernsey as lead sponsor and
exhibitor at the STEP Asia conference in Singapore. Mr Hooley spoke
on 'the new global framework for wealth structuring' and
participated in a panel session that looked at the contribution
'offshore' centres make to higher tax jurisdictions. Mr
Niven chaired a debate provocatively titled 'Gordon Brown and
Nicolas Sarkozy are right – tax havens really are
The delegation then moved on to Hong Kong where there was a
half-day conference showcasing why Guernsey's expertise in
offshore investment funds makes it an ideal gateway for Asia to
access European capital markets. The Guernsey team also met with
the Hong Kong Stock Exchange and the Hong Kong Investment Fund
Association before heading to Shanghai.
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