News article

Lord Mayor leads City delegation to China

This world location news article was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

The Lord Mayor of the City of London led a City business delegation to visit China and Mongolia between 15 and 23 September 2013.

The Lord Mayor, Alderman Roger Gifford, paid an official visit to Shanghai and Beijing in mainland China and Hong Kong to further the close ties that have been developed between the City of London, these cities and China as a whole. He also promoted the UK as the top global destination for foreign investment.

During a busy programme spread over 5 working days, the Lord Mayor met the Vice Mayor of Shanghai, joined the opening ceremony for the new Baltic Exchange office, promoted the UK’s maritime services offer at the Maritime London Annual Shipping forum and discussed “The Role of International Financial Institutions in the Development of the Chinese Financial Market” with the EU Chambers Financial Forum was also on his schedule in Shanghai.

In Beijing, the Lord Mayor met Chinese financial regulators. He also met with the Mayor of Beijing, as well as spoke at events to promote the expertise of UK legal services and the Bar in particular.

Hong Kong is a leading offshore RMB centre, and London is contributing to the internationalisation of RMB as a “western hub” through its partnership with the Chinese and Hong Kong authorities. In his visit to Hong Kong, the Lord Mayor met senior officials from the Hong Kong Special Administrative Region Government, including Financial Secretary John Tsang, and discussed London’s role in the offshore RMB market with the Hong Kong Monetary Authority. The Lord Mayor also promoted UK maritime services to the Hong Kong Shipowners’ Association and spoke on the City’s role in providing green finance at a roundtable held at the British Consulate-General.

The Lord Mayor Roger Gifford said:

China is the world’s second largest economy and is a steadily growing market that UK-based firms are keen to explore further. The UK and the City of London wants to work with this global economic powerhouse by mobilising the two-way flow of capital, knowledge and ideas.

London is the world’s leading financial centre, and gateway to European markets for increasing number of Chinese companies basing their operations in the UK in order to enhance their brands and improve their international exposure. London’s openness to foreign investment is part of the UK’s competitive advantage. We want the UK to be first choice for Chinese investment.

As well as Mainland China and Hong Kong, the Lord Mayor and the business delegation also travelled to Mongolia for a two day visit (19th -20th September).