We want our members to be the partner of choice for Chinese companies and the UK to be the location of choice for Chinese investment.
In order to achieve this, we work with H M Treasury, the Foreign and Commonwealth Office, UK Trade and Investment, the Corporation of London, City Hall and others to promote the strengths and expertise of our members to our Chinese partners and increase the opportunities available in the China market to UK business. We are committed to highlighting the UK as the global centre for financial and related professional services and a prime destination for inward investment.
Our China advisory group sets the strategic priorities for our sector and is run jointly with the China-Britain Business Council (CBBC).
TheCityUK has signed a comprehensive cooperation deal with the China Development Bank Corporation (CDB). The landmark deal was finalised during the visit of Chinese Premier Li on 17 June 2014 to the UK. Find out more here
HM Treasury’s Financial Services Trade and Investment Board (FSTIB), which was established by the Chancellor of the Exchequer in spring 2013, has identified a number of key projects which contribute to the promotion of the UK’s financial services sector, including positioning London as a major centre for the internationalisation of the renminbi. Additionally, TheCityUK’s Chairman leads the private sector contribution to the UK’s government response to China’s free trade zones (FTZs) policy, which is having wide resonance in terms of the next steps of economic reform in China. We are delivering key analysis and policy debate under this initiative with partners in government and the CBBC. During the Premier’s visit, TheCityUK presented the first three of a series of discussion papers on China’s FTZs policy. A further eight were presented at the UK-China financial dialogue in September 2014. Three more have been completed to June 2015, on pensions and asset management for Guangdong and Qingdao, and on the regulatory architecture of the UK financial and related professional services sector. Find out more here.
Our China Market Advisory Group provides an umbrella for all our China-related activity and looks to help deliver a number of outcomes for the FSTIB as well as other projects which contribute to the strategic objectives of the financial and related professional services sector. It works closely with TheCityUK’s Liberalisation of Trade in Services (LOTIS) Committee to further the sector’s objectives for trade and investment policy.
Following the publication of our FTZs papers, a number of prominent roundtables have been held in cities across China to discuss the key issues outlined in the papers. TheCityUK also hosted major roundtables with the Guangdong authorities in September 2104 to discuss regulatory reform in the southern province and with the Tianjin government in June 2015 to discuss development of their own FTZ.
As a result of the visits to China of TheCityUK’s Chief Executive, Chris Cummings, in June 2014 and 2015, we have engaged in key dialogue with Chinese asset managers and insurers and signed a memorandum of understanding with the China Development Bank.
We have also been working to increase the footprint of China’s banks in the UK, a key element of building bilateral relations for the sector and growing new RMB business out of the UK.
For information on joining our China Group, or if you would like to get involved in our other China activity, contact firstname.lastname@example.org