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Jersey Explores The Middle Kingdom

by Mary Swire, Tax-News.com, Hong Kong

17 October 2013


The Channel Island of Jersey is continuing to raise its profile in mainland China and explore specific market opportunities, following a recent programme of activity taking in some of the region's major cities. With an itinerary that included Shanghai and Beijing, Richard Corrigan, Global Head of Business Development for Jersey Finance, represented Jersey at a number of mainstream business events and met with key officials including business introducers and Chinese professional services and law firms during his ten-day visit.

As a sponsor of the China British Business Council (CBBC) China Outbound Conference in Shanghai (10th September), Jersey Finance had a slot on the podium, when Robert Ayliffe, Managing Director at Capita International Financial Services (Singapore), highlighted Jersey's corporate listing expertise. Richard also attended the Asia Hedge China Forum in Shanghai (12th September), attended by over 200 senior investment and funds professionals.

He was also part of the Lord Mayor of London Roger Gifford's official visit to Beijing (September 14-18), which allowed Jersey to be represented at meetings with the Mayor of Beijing and the Vice-Mayor of Shanghai.

During his visit, Richard highlighted Jersey's expertise in the areas of private wealth, capital markets and in facilitating inward investment from China into the UK, at various networking events organised by the British Ambassador, the China Bar Council, the British Chamber of Commerce in Shanghai and Beijing, and the European Chambers of Commerce in Shanghai.

Richard Corrigan commented: "The positive feedback I received during this visit, particularly in relation to our presentation on pre-IPO structuring at the CBBC Conference in Shanghai, was welcome evidence that Jersey is receiving growing recognition in mainland China as a first class International Finance Centre. Our involvement in the Lord Mayor's visit to Beijing was particularly illuminating, giving us an opportunity to strengthen Jersey's ties in the region and focus our thoughts on Jersey's market opportunities in China, but also re-affirming just how competitive the market is and how much work is needed to maintain Jersey's profile in a vast market."

"More specifically, with Shanghai setting up a Free Trade Zone, it is becoming clear that Hong Kong will need to work increasingly hard to maintain its competitive edge, particularly for trading Chinese currency. With Shanghai taking greater strides towards internationalisation, this firmly supports our strategy to have representation established in Shanghai by early 2014, with financial and trade flows expected to increase between Shanghai, Hong Kong and London as a result. Having strong representation in both Shanghai and Hong Kong, combined with our existing excellent links with London, will position Jersey ideally to capture this growth in high quality business."

TAGS: Finance | tax | investment | business | law | capital markets | international financial centres (IFC) | China | Jersey | Singapore | offshore | professionals | Hong Kong | currency | trade | services | Europe

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