Lord Mayor of London leads fintech delegation to China to promote trade and investment
The Lord Mayor of London Peter Estlin is to visit China from 18 to 23 March 2019 to promote links with the UK in fintech, green finance and the Belt and Road Initiative.
The Lord Mayor, in his role as an ambassador for the UK’s financial and professional services, will meet senior members of the Chinese government and business leaders during his visit. The six day visit sees him travel to Shenzhen, Shanghai and Beijing accompanied by a delegation of 13 innovative fintech firms (list provided below) headed by John McLean OBE, a board member of the China Britain Business Council (CBBC).
In each of the three cities a fintech forum is being held with government and industry aimed at boosting city-to-city links in the sector. These events will see the Lord Mayor speak alongside senior Chinese business figures, and will also provide the opportunity for members of the delegation to pitch to potential investors.
Meanwhile, meetings will be held with senior figures of the Shenzhen and Shanghai governments, both of which have longstanding cooperation agreements with the City of London Corporation, to discuss how both sides can further strengthen the mutual relationships in areas including fintech, asset management and capital markets.
During the visit the Lord Mayor will also be promoting innovation and technology, championing digital skills and addressing digital and social inclusion as part of his “Shaping Tomorrow’s City Today” programme.
Speaking ahead of his trip, The Lord Mayor of London Peter Estlin said:
“Seventy years on from the founding of the People’s Republic of China, ties between our two countries have gone from strength to strength, with bilateral trade now worth nearly £70 billion.
“As China continues to expand and open-up its economy, the City of London and more broadly the UK continues to play an important part in the country’s success story.
“I look forward to helping build on these solid foundations during my visit, and to strengthening ties in areas including fintech and green finance.”
CBBC board member John McLean OBE said:
“I am delighted to lead the delegation to promote opportunities for companies in the City and the wider UK to grow and thrive in the rapidly evolving China market and to demonstrate that London is open for business for Chinese financial and tech companies.
“CBBC has been at the heart of the UK-China trade relationship for over 65 years and I look forward to further strengthening the bonds which exist between UK and China.”
More than 30 Chinese financial firms are now based in the Square Mile, and the majority of major UK financial institutions have a presence in China. London remains the leading hub for RMB trading outside of Asia, and the City Corporation works alongside the People’s Bank of China to produce a quarterly review of use of the currency in the capital. In green finance, our countries continue to set the benchmark for international cooperation, and late last year the UK-China Green Finance Taskforce announced a set of green investment principles for the Belt and Road.
Notes to editors
The City of London Corporation is the governing body of the Square Mile dedicated to a vibrant and thriving City, supporting a diverse and sustainable London within a globally-successful UK. www.cityoflondon.gov.uk
For more information contact:
City of London Corporation Financial Services Media Officer for Asia
(0044) 7864 625086
Delegation as follows:
- Artificial Labs
- OakNorth AI