29 May 2009
City Lord Mayor cements ever stronger links with China
Lord Mayor Ian Luder, the Ambassador for UK-based financial
services, will head a City business delegation to Beijing,
Shanghai, Chongqing and Hong Kong from 29 May to 9 June.
Lord Mayor Luder, whose business party includes leading UK-based
financial and professional services firms, will meet key figures in
banking, insurance and financial services as well regulators and
political leaders.
Having hosted a meeting with Chinese Vice Premier Wang Qishan in
London earlier this month, the Lord Mayor said:
'The decline in world trade and investor and consumer confidence
poses many challenges for both the UK and China. My visit to China
will showcase how we can work together to combat the global
financial crisis and find new avenues for growth for both
countries.'
'China continues to offer tremendous opportunities for City
businesses, in the fields of world-class professional services,
insurance, asset management and financial education. And in return,
the City’s participation in the Chinese financial sector can help
bring new capital and expertise and improved corporate
governance'
'For the small and medium enterprises in particular - which are
amongst the hardest hit by the crisis - the City can help meet
their needs through listings, and working together on the
development of products to increase access to capital including
fixed income products, bonds and equities.'
'Equally, with the appreciation of RMB against sterling, now is
an excellent time for Chinese companies to take advantage of low
commercial property costs and locate their businesses in London,
the gateway to European and international markets. There are also
opportunities for China to harness the City's highly skilled
workforce to grow and develop its financial sector.’
In Beijing, the Lord Mayor will meet leaders from the Chinese
Ministry of Commerce, National Council for Social Security Fund,
and the China Investment Corporation (CIC). He and the business
delegates will also meet financial services regulators including
China Banking Regulatory Commission (CBRC), China Insurance
Regulatory Commission (CIRC) and China Securities Regulatory
Committee (CSRC).'
In Shanghai, Chonqing and Hong Kong, the Lord Mayor will make
keynote speeches at seminars which will focus on accountancy,
capital raising, risk management, maritime services, corporate
finance and carbon trading. He will meet key political leaders and
continue discussions with HK’s Chief Executive Donald Tsang and
Shanghai Vice Mayor Tu Guangshao whom he has received in London
previously.
Welcoming the State Council’s statement to turn Shanghai into an
international financial centre and a global shipping hub by 2020,
the Lord Mayor said:
To make Shanghai one step closer in becoming a truly
international financial centre, China needs to fill the skills gap
and will need to increase its range of financial products. UK
education providers can play an important role in developing these
skills for the Chinese financial sector, and the City of
London has a wealth of experience to share in the development of a
diversified range of financial products and role of an
international financial centre. I look forward to continuing the
dialogue and partnership with the Shanghai authorities during my
visit.'
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. For more information
on the Lord Mayor visit
www.cityoflondon.gov.uk/lordmayor
The Lord Mayor’s programme in Beijing, Shanghai,
Chongqing and Hong Kong also includes
- Opening ‘Going Global’ Seminars
- Hosting roundtable discussions at China Europe International
Business School (CEIBS)
- Making keynote speeches at Cheung Kong Business School in
Beijing and Chongqing Technology and Business University
- 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