The engagement follows CBBC’s meeting with Minister WANG Wentao of the Ministry of Commerce last month, and continues a programme involving key Chinese government ministries and regulatory bodies over the coming months. We encourage CBBC Members to get in touch to see how your business can participate.
In his opening remarks, Chairman YI remarked that,
More foreign businesses will be allowed to operate within China’s capital markets, including those from the UK. As always, CSRC welcomes CBBC members to invest and set up business in China and to enjoy the benefits of the country’s sustained and robust growth.
During the meeting, Sir Sherard outlined the UK’s contribution to China’s financial and professional services sectors, where Britain maintains a small but consistent surplus, given that the country’s exports in this area are worth close to £3 billion per year.
Chairman YI closed the meeting by reflecting on the fact that,
At a time when globalisation is faced with new challenges, dialogue is essential to furthering mutual understanding... The UK is one of the leading regulators for capital markets, and there is a lot that we can take from Britain’s experience of regulating capital markets.
Commenting on the meeting, CBBC Chair, Sir Sherard Cowper-Coles said, “Today’s meeting underlines the commitment that the UK’s world-leading financial and professional services providers have to the China market, and that the business relationship is strong and flourishing. We must continue to argue hard for speeding up the awarding of licenses to our companies. That way, UK firms can continue to collaborate with their Chinese counterparts to achieve even greater things.”