Post on 03-Oct-2020
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Chinese bank branch in London shows China’sconfidence in a post-Brexit UK, says Ambassador
2018 is an important year for China, says Ambassador Liu Xiaoming. From the banks of theHuangpu River in Shanghai to the banks of the Thames in London there’s a new banking option inLondon.
Ambassador Liu Xiaoming addresses the crowd [Photo: Chinese Embassy]
Speaking at the opening of the Pudong Development Bank’s London Branch, the first branch everopened outside of Asia, Chinese Ambassador Liu Xiaoming said that this year will start to see theimplementation of the blueprint created at the 19th Party Congress.
The Ambassador also said that Chinese banks were interested in London because it’s “a worldfinancial centre, with an open and transparent legal environment, easy market access and globalreach in financial services”. He went on to say that these qualities have attracted the PudongDevelopment Bank and many other Chinese banks to London.
Theresa May's visit to China last week, helped both countries build on what they are calling the"Golden Era" of China-UK relations. During the visit, the leaders of the two countries reachedimportant new agreements on economic, trade and financial cooperation. Both sides said they willcontinue to support their banks in expanding business in each other's country. And the two sides willalso continue to encourage banks to carry out cross-border cooperation.
This year also marks the 40th anniversary of the reform and opening up of China. Ambassador LiuXiaoming said that the Chinese government reaffirmed that the country will never close its door tothe world, and that moving forwards China will open up on all fronts.
At the end of his speech, the Ambassador noted that it will soon be Chinese New Year and this yearis the Year of the Dog. In Chinese culture, the dog stands for loyalty, courage and diligence. “All ofthese are the finest qualities highly valued in the business community”, he said.
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