19 April 2007
Lord Mayor brings Green and Education agendas to the Far
East
Lord Mayor John Stuttard, who represents financial services
based in the City of London, this Saturday (21/4) arrives in the
Far East at the head of a business delegation of 65 people to
strengthen business links with China, Malaysia and Vietnam.
Lord Mayor Stuttard, ambassador for the Square Mile business
district, which ranks as the world’s number one centre for
international financial services, will make his first stop in the
world’s most populous city – Chongqing.
Following the success of the previous ‘Going Global’ London
listing events in China, the Lord Mayor will open seminars under
the same banner in Chongqing, Guangzhou, Shenzhen, Kuala Lumpur,
Hanoi and Ho Chi Minh City. Lord Mayor Stuttard said:
‘It’s essential that the City of London forges its own direct
links with local cities as well as with the national hubs. Each of
the cities I am visiting has the potential to become a regional
financial centre."
Climate-change issues and business education are the two new
elements that the Lord Mayor will include on his visit to the Far
East. Lord Mayor Stuttard is looking forward to visiting a
large-scale "clean-development mechanism"(CDM) project in
Chongqing. The Lord Mayor said:
"China is predicted to become the top carbon emitter in the
world. I am keen to explore business opportunities for the City,
share the expertise we have on carbon trading and discuss
environmental issues with Chinese politicians and officials."
Supported by UKTI and the British Council, the Lord Mayor will
also lead sessions on education, training and qualifications –
promoting the excellence in top-level skills and training
development in the UK for financial services personnel.
Lord Mayor Stuttard will meet key figures in banking, insurance
and financial services as well as political leaders in all cities.
In Malaysia, the Lord Mayor will build on well-established
relations with the Malaysian Government in its 50th year of
Independence. He will also visit the Islamic Finance Centre to
develop relationships with this sector.
In Vietnam, the Lord Mayor will meet key politicians and
encourage the continuing liberalisation of the Vietnamese economy.
He will also promote UK’s expertise on Privatisation, PPP, and the
Developing Capital Markets which will be reinforced by a series of
seminars in both Hanoi and Ho Chi Minh City.
Ends
Notes to editors
Lord Mayor John Stuttard
will be in China (Chongqing, Guangzhou and Shenzhen) 21/4 – 28/4,
Malaysia (Kuala Lumpur) 28/4 – 1/5, Vietnam (Hanoi & Ho Chi
Minh City) 1/5 – 6/5
Key facts on City of London
- 32% of all world currency trading in London (more than NYSE and
Nasdaq combined).
- 90% of world trade in metals, 23% of world aviation insurance,
25% of all marine insurance, almost 50% of all ship brokering in
London.
- London has the most liquid financial market and is the most
international.
- London is the largest investment banking centre in Europe,
dealing with half of all European investment banking activity. Most
investment banks are headquartered or have a major office in
London.
- 610 foreign companies are listed on the London Stock
Exchange.
- London’s international experience – it has the most foreign
banks of any financial centre (255 by March 2007 figs) – NY has 228
and Paris 217.
City of London
The City of London Corporation is committed to maintaining and
enhancing the status of the business City as the world's leading
international financial and business centre as part of its role in
providing local government services for the Square Mile. Its
responsibilities also extend far beyond the City boundaries and
include management of the Barbican Centre, Central Criminal Court
at the Old Bailey, Epping Forest, Hampstead Heath, three wholesale
food markets, as well as acting as the London Port Health
Authority.
Going Global
Going Global brings together high-profile local companies, UK
experts, representatives from the City of London and UK
practitioners. Participants will hear about why the City of London
is the world’s leading financial services centre, how to raise
capital and how to access the professional skills required,
listings on the main LSE or AIM and accessing venture capital.
City of London, City of Learning
Lord Mayor Stuttard has launched the new "City of London – City
of Learning" campaign backed by the British Council and UKTI to
link global centres with high-level professional institutions and
universities/business schools in the UK. The campaign involves
City-related UK professional institutes, key university business
schools and training providers that offer post-graduate and
professional qualifications in financial, maritime and business
services, both in the UK and overseas. The Lord Mayor’s campaign
steering group includes Sir Paul Judge (Chairman), Sir Roderick
Floud, Professor David Rhind and representatives of HM Treasury,
UKTI, the British Council and IFSL.
City of London and China
In strengthening direct links with China, the City of London,
using CBBC’s Launchpad Scheme, has now established City
Representations in Beijing and Shanghai. The City Representations
promote the services of the City to the Chinese public and private
sectors, eg London exchanges, insurance, asset management,
infrastructure finance and consultancy, business education &
training. Other tasks include promoting the City as a location for
Chinese companies, and facilitating the business development of
City firms in China. The City of London has also signed a
Memorandum of Understanding with both Shenzhen and Shanghai.
The Lord Mayor’s programme in Chongqing, Guangzhou and Shenzhen
includes:
- Attend and open Going Global London Listings Seminars
- Work with key Chinese Government Departments with a view to the
reform, restructuring and listing on the London Stock Exchange
(LSE) of State owned Chinese Companies.
- Forge greater links and cooperation between China and UK in
investment banking, accounting, and legal professions
- Promote the UK’s expertise in the development of pensions and
fund management business
- Encourage greater liberalisation of the Chinese legal market in
the understanding that such liberalisation is essential for the
establishment of a viable financial services market.
- Promote the ETQ initiative based on a series of Seminars in
Chongqing, Guangzhou and Shenzhen.
- Highlighting the City’s interest in development plans for the
West of China and investigating how City expertise could support
regional development.
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Press Contact: Loretta Lui at the City of London Press Office
will be in China 21 April to 28 April
inclusive. Email
or +44 7770 803 589 or the City of London Press Office on 020
7332 1906.