Guernsey Finance, the promotional agency for Guernsey's financial services industry internationally, has signed an agreement to cooperate on business development with the Shanghai Family Office Union. It also announced that it will open a Hong Kong representative office during the first quarter of 2016.
Welcoming the agreement, Guernsey Finance's Director of International Business Development, Kate Clouston, said: "We are thrilled to have a partner in Shanghai with whom we can work to develop ties and increase business exchanges in the private wealth space."
"Guernsey industry experts now have the opportunity to help Chinese firms understand international regulatory and compliance standards and procedures, and the Union will in turn act as a conduit to a vast and growing network in mainland China. The MoU also shows a broadening of the relationship between Guernsey and China which has continued to build since we first established our Shanghai office in 2007."
The signing of the agreement came at the end of an Asia trip by a Guernsey delegation, including meetings in Hong Kong, Kuala Lumpur, Singapore, Beijing, and Shanghai.
Guernsey previously signed cooperation agreements with the China Banking Regulatory Commission in 2011, the China Securities Regulatory Commission in 2013, and the Beijing Municipal Bureau of Financial Work in 2014.
By Guernsey Finance
