24 June 2008
China-born Lord Mayor leads influential City delegation to Far
East
Lord Mayor David Lewis, who represents UK-based financial
services, will head a significant City business delegation to China
and Hong Kong from 24 June to 8 July, 2008.
Accompanied by senior City figures including the Chairman of the
LSE and representatives from the FSA, the Lord Mayor’s visit comes
after the Sichuan Earthquake and the floods in Southern China, and
shortly before the Beijing Olympics. Lord Mayor David Lewis
said:
“This is a challenging time for China - our thoughts are with
people affected so badly by the earthquake and the floods. We
hope the City can help China in its efforts to rebuild the affected
areas by continuing to bring more business and investment to our
very important partner.”
In Beijing, the delegation will meet key Chinese ministers and
regulators, including Mr. Lou Jiwei, Chairman of China Investment
Corporation (CIC). The Lord Mayor said:
“The City’s real estate market has been largely dominated by
European and Middle-eastern investors. But I believe there are
still ample opportunities for Chinese investors, particularly the
CIC, the State Administration of Foreign Exchange (SAFE) and
developers from HK, as a means to diversify their investments.”
“Both China and the UK have been experiencing rising inflation,
higher energy prices and poor stock market performances. Despite
the global financial turmoil, the City’s commercial property market
offers strong potential for investment because global companies
will continue to see London as their preferred choice of location –
the City is internationally-owned and London is the world’s leading
international financial centre.”
Whilst there, the Lord Mayor will also lobby for an end to the
restrictions on Chinese companies to list and invest overseas. As a
corporate lawyer for 40 years specialising in M&A, Lord Mayor
Lewis said:
“Without access to overseas listings and equity finance, Chinese
companies may find it difficult to expand internationally or indeed
to acquire overseas companies through mergers and
acquisitions.”
The Lord Mayor will officially open the City of London’s offices
in Beijing and Shanghai – both of which have received formal
licences to operate this year. He will also hold meetings in
Tianjin where the City has implemented a MoU to facilitate
financial training.
A series of seminars and roundtable meetings will be held to
showcase the City’s expertise such as raising capital, pension
provision, REITs and alternative dispute resolution.
He will then lead the business delegation to Xiamen and Changsha
for the very first time.
Lord Mayor David Lewis will conclude his China visit in Hong
Kong to explore opportunities with the authorities for further
co-operation in financial services, particularly on Islamic Finance
and carbon trading.
Ends
Notes to editors
The Lord Mayor acts as the ambassador for UK-based financial
services and spends around 100 days of his year visiting more than
20 countries. He is also the annually-elected head of the City of
London Corporation which provides local government services for the
Square Mile, the financial and commercial heart of the UK. The Lord
Mayor, the City of London, UKTI and the UK Treasury work in
partnership to promote UK financial services. More info on the Lord
Mayor at
www.cityoflondon.gov.uk/lordmayor
The Lord Mayor’s programme in Beijing, Tianjin, Shanghai,
Xiamen, Changsha and Hong Kong also includes
- Calling on Ministry of Commerce, Ministry of Justice and
Ministry of Human Resources and Social Security
- Meeting with Chairmen of CIRC, CSRC and CBRC
- Opening the “Going Global” seminars
- Making a keynote speech at Peking University
- Hosting roundtable discussions at China Europe International
Business School (CEIBS)
- Opening seminars on renewable energy, alternative dispute
resolution, Islamic Finance and carbon trading
- Awarding Mansion House Scholarships to high calibre Chinese
financial services practitioners
The City of London in China
The City of London has established offices in Beijing and
Shanghai to strengthen trading and investment links in both
directions between China and the UK through the provision of world
class financial services and products.
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 international 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 and private equity.
Press enquiries to Loretta Lui +44 777 080 3589
loretta.lui@cityoflondon.gov.uk