Jersey's appeal as a centre for facilitating investment into
and out of China has been boosted following the signing of a
Memorandum of Understanding (MoU) between the Jersey Financial
Services Commission (JFSC) and the China Securities Regulatory
Commission (CSRC), according to Jersey Finance.
The MoU was signed by John Harris, Director General of the JFSC,
and the Vice Chairman of the CSRC, Mr LIU Xinhua on Wednesday 9
April at the CSRC's office in Beijing.
Providing the basis for a framework of cooperation and exchange of
information, significantly the MoU paves the way for allowing
Jersey domiciled funds to participate in the Qualified Foreign
Institutional Investor and Qualified Domestic Institutional
Investor programmes. As such, it will be beneficial to Chinese
investors looking to internationalise their investments and add to
Jersey's appeal as a jurisdiction that can act as a gateway for
investing into and out of China.
The signing formed part of a senior Jersey delegation visit to
Beijing and Shanghai, led by Jersey's Chief Minister, Senator
Ian Gorst and included representatives from the States of Jersey,
the JFSC and Jersey Finance.
During the visit, Jersey Finance was also represented at
SuperReturn China, the leading Chinese Private Equity and Venture
Capital event in Beijing. Jersey Finance was sponsor of the opening
day cocktail reception and a co-sponsor of the two-day event, which
was attended by more than 300 attendees and 100 international and
local Limited Partners.
A number of meetings with Government representatives and leading
business introducers, in Beijing and Shanghai, were also held
during the visit to highlight areas where Jersey sees particular
scope for supporting Chinese investors. As well as providing fund
and corporate vehicles for outbound Chinese investments, these
include listing opportunities for equity and dim sum bonds and
structuring offshore RMB using Jersey vehicles.
Richard Corrigan, Jersey Finance's Deputy CEO, said:
"The MoU builds on Jersey's long established
relationship with the PRC. It is a real statement of intent from
both sides, to communicate and cooperate more closely in the
future. Jersey is now extremely well placed to realise the growing
number of inward and outward investment opportunities being made
available by the continued liberalisation of the Chinese
Tightened monetary policies leading to limited capital inflow to the securities market, its low liquidity and significant decrease in stock price partly contribute to the low attractiveness of Vietnam's stock exchange.
Unbelievably, the calendar has somehow advanced to September, the month in which we celebrate National Day. For families, it also marks the end of the summer holiday season and the start of the new academic year.
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