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Guernsey In Line To Win Business From China

by Phillip Morton, Investors

23 October 2008

Guernsey is in line to win Chinese fiduciary business off the back of a delegation visit to Hong Kong and Shanghai, according to Guernsey Finance, the island's investment promotion body.

The delegation has returned to the island after two weeks highlighting how Chinese institutions and high net worth individuals can benefit from using trust and corporate services provided by Guernsey.

In a press release Chief Executive of Guernsey Finance Peter Niven said: “We were able to put forward a very strong case for using Guernsey instead of either BVI or Cayman. Now we will follow up on all of our leads and continue to get the message across that Guernsey companies are easier, speedier and cheaper to incorporate than many of our competitors’ products.”

“Overall the feeling is that the delegation was a success. We put a positive and strong message across and there is every indication that business flows will be good,” said Peter Niven.

The delegation spent one week in Hong Kong (5th-11th October) and the second week in Shanghai (12th-17th October) showcasing Guernsey as lead sponsor and exhibitor at the STEP Asia conference in Hong Kong. Guernsey’s success was through specific trust and company seminars in both locations and a series of meetings with key decision-makers in the two centres.

Chief Minister Lyndon Trott was invited to give the opening address at the 2nd Shanghai International Forum of Venture Capital and Private Equity Investment.

He also led the delegation in meetings with the British Consulate in Shanghai; the City of London Shanghai Office; the Shanghai Venture Capital Association; the Chinese Banking Regulatory Commission; and the Vice-Mayor of Shanghai, Tu Guangshao.

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