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UKTI event highlights UK-Hong Kong partnership on the RMB market

UKTI promotes the UK as an RMB and global fund management centre to a Hong Kong audience of international asset managers.

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Consul General Caroline Wilson speaks at "UK - The Western RMB Hub" event
Consul General Caroline Wilson speaks at "UK - The Western RMB Hub" event in Hong Kong

Nearly 80 industry players attended a UK Trade and Investment (UKTI) event in Hong Kong on 26 January 2015 that examined the UK as an RMB and global fund management centre. The audience of UK, Chinese and international asset managers, bankers and intermediaries filled the venue at the prestigious Hong Kong Mandarin Oriental.

Speeches and discussions at the event explored:

  • opportunities as China internationalises
  • the strength of the UK’s offer
  • the process of investing in the UK

Expert speakers and panellists included:

  • HSBC
  • Clifford Chance
  • UK Investment Management Association
  • Deloitte
  • Harvest Global Investments

UK Consul General Caroline Wilson stressed the ongoing importance of the UK’s partnership with Hong Kong on the RMB market, and reviewed a successful 2014:

The UK Government believes the rise of the RMB is going to be one of the most important developments in financial markets of the 21st Century. 2014 was another astonishing year in that rise, and the UK firmly cemented its place as a leading global RMB hub.

The Consul General went on to highlight the UK’s credentials as the largest fund management centre in Europe and second largest in the world:

…as an investment management hub, the UK ticks the boxes across domicile, asset management and distribution, as well as target investment allocation. The key message for you is this: the UK is ready and able to be a one-stop shop for Chinese IM firms – and IM firms from any jurisdiction – that want to enter the European markets.

Read the full text of the Consul General’s speech.

Harvest Global locates in London

This month Harvest Global Investments will be the first Chinese headquartered IM firm to open its doors in London. Peng Wah Choy, Vice Chairman and Chief Executive Officer (CEO) of Harvest Global Investments, gave a presentation discussing why Harvest chose the UK. Choy said,

We as a fund manager want to be there as European investors make their first foray into China. Establishing in the European time zone became a must. So we asked: where can we hire the best people? Tap into the best talent pool? Convince our colleagues to move to? London was the obvious answer – it’s so business friendly.

Some of the people here today have been very helpful. UKTI did calls with us every week and held our hands all the way. I cannot think of another location that I would rather be in today.

Contacts

Contact the Hong Kong Investment Team if you are interested in investing in the UK, or want to know more about the UK as an asset management and RMB hub.

Published 26 January 2015