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BritCham/CBBC Finance Forum holds first technical session of 2014

BritCham / CBBC
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On 15 January, the Finance Forum convened at the British Centre to discuss the banking sector in China. This was the first of four planned technical sessions for the Forum, each of which will cover one of the subsectors of the financial services industry. The aim of the Chamber's Finance Forum is to help British companies gain access to and operate in China, one of the world's most challenging financial markets.

Banking is of critical importance to the British economy and is a priority for the British Chamber in China. The UK is home to various companies, from large commercial banks to smaller advisory firms, who are positioned in the Chinese market. They include both British firms and international firms that are based in London. 

This Forum was a high-level meeting attended by representatives of the British Embassy, the Confederation of British Industry and the British Chamber of Commerce in China as well as leading figures from foreign financial institutions including Rothschild, RBS, Barclays, Standard Chartered, SEB and City of London Corporation.

Four briefings were given to attendees. George Norris, First Secretary for Financial Policy at the Embassy, spoke about the outlook for banking reform in China and the role of foreign participants, as well as macro trends.

Ben Chesson, Head of the UKTI China Financial Services Team, gave an introduction to the existent mechanisms of interaction with the Chinese government and regulators.

Fredrik Ektander, Chief Representative in China for SEB, spoke on behalf of the European Union Chamber of Commerce in China, introducing the EU Chamber Banking & Securities Working Group and presenting its latest Position Paper on financial services in China.

Finally, Gloria Xu, Head of Government Relations in China at Standard Chartered, gave an overview of the US Chamber of Commerce in China's Position Paper in relation to financial services.

The briefings were followed by open discussion on topics ranging from regulatory, political and commercial obstacles faced by British commercial, retail and investment banks in China, to the role of the British Chamber and how it can help firms to do business here.

A successful and informative session concluded with time for attendees to network and discuss sector-specific issues informally.

Thank you to the Forum chairs, Nicholas Sheffield and Anatole Pang, for organising this event at the British Centre. Finance Forums will continue to take place regularly throughout 2014.

 

 

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