In an itinerary that included Beijing, Shanghai, Hangzhou and Hong Kong, Jersey’s delegation met with key officials including Chinese ministers and British consular officials, celebrated the the ratification of its double taxation agreement with Hong Kong, hosted receptions attended by government officials and business leaders and met with a range of journalists in Shanghai and Hong Kong.
Jersey’s Chief Minister, Senator Ian Gorst, who in addition to undertaking a series of significant meetings with officials in Shanghai and Beijing, spoke at a lunch hosted by the British Chamber of Commerce while in Shanghai and answered questions about Jersey. He also met with the Governor of Pudong, China’s business and commercial hub, Mr Jiang Liang, and invited him to visit Jersey in the future.
Senator Gorst was accompanied for part of the trip by Assistant Chief Minister, Senator Sir Philip Bailhache, who during the Hong Kong stage of the visit, formally ratified the Double Taxation Agreement with Hong Kong which had previously been signed in 2012.
Jersey Finance chairman, Jonathan White and its head of global business development, Richard Corrigan, also participated in the trip, together with Zhaoan Li, Jersey Finance’s head of business development, North Asia, who is based in the Hong Kong office. They arranged a number of key meetings with leading business introducers, directors of local banking groups and representatives of an important sovereign wealth fund.
In Hong Kong, Jersey Finance staged a breakfast reception, held meetings with financial services and treasury officials and hosted a further meeting of the Jersey Advisory Group, which is composed of senior finance and legal specialists in the region who provide ‘on the ground’ advice and are updated on Jersey’s range of services and Greater China strategy.
One of the highlights in Hong Kong was a presentation to the HM Consul General of a copy of Equanimity, a portrait of HM Queen by artist Chris Levine and holographer Rob Munday, which was commissioned by Jersey Heritage in 2004 to celebrate an 800 year association with the English Crown, a feature of the visit designed to highlight Jersey’s cultural heritage and its close ties with the UK.
Richard Corrigan commented:
‘We are moving forward on so many fronts in our political, regulatory and commercial relationship with China and Hong Kong that it is extremely encouraging for our business prospects. The visit was an ideal platform to foster further ministerial and commercial ties generally in the region and more specifically, we were able to raise awareness of Jersey’s quality and substance in Shanghai, in advance of plans to open an office there which are now well advanced. Furthermore we noted clear signs that Jersey is being recognised as a top tier International Finance Centre (IFC) during a period where some competitor IFCs are facing difficulties.’
Picture: Jersey delegation which involves Richard Corrigan (Global Head of Business Development, Jersey Finance), David Walwyn (Deputy Director International Affairs, SoJ), Senator Ian Gorst (Chief Minister, SoJ), Jonathan White (Chairman, Jersey Finance) and Matt Fiott (Principal International Relations Officer, SoJ)