Beijing Financial Street Delegation Explores Collaboration Opportunities in London
A delegation from Beijing Financial Street held a conference in the City of London, the UK counterpart, on September 20, gathering around 100 representatives from 60 organizations to explore opportunities for collaboration.
Located in Xicheng District, Beijing Financial Street is home to China's major financial regulatory bodies, including the People's Bank of China, the National Financial Regulatory Administration, and the China Securities Regulatory Commission. It also hosts approximately 1,900 financial institutions, including the headquarters of the Bank of China and Industrial and Commercial Bank of China, along with over 140 foreign institutions.
Zeng Linfeng, Executive Deputy Mayor of Xicheng District, gave a comprehensive presentation about the area. "We welcome more UK companies to visit Xicheng District, learn about Financial Street, and consider investment opportunities here," he said.
Bao Ling, Minister for Economic and Commercial Affairs at the Chinese Embassy in the UK, highlighted China's recent acceleration in opening its financial industry. He noted the removal of caps on foreign equity holdings in banking and insurance, as well as other restrictive measures. "These initiatives will certainly create new opportunities for companies and individuals from all countries, including the UK," Bao remarked. "The economies of China and the UK are highly complementary, offering significant potential for cooperation."
Fang Wenjian, Chairman of the China Chamber of Commerce in the UK and General Manager of Bank of China's London branch, noted that around 40 Chinese financial institutions are currently based in the City of London. He emphasized their work with UK counterparts in promoting green finance and the internationalization of the renminbi.
Li Hui, Chief Representative of the People's Bank of China for Europe, and Jack Perry Jr., Chairman of The 48 Group, also delivered speeches at the event.
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