Search

By Courtesy of Reuters March 26th. 2014, according to Reuters, Britain and China will sign an agreement next week to set up the first clearing service for renminbi trading outside Asia, putting London in a prime position to offer yuan trade business in Europe.China has been a key focus of finance minister George Osborne's efforts to boost exports of financial services from Britain, which was the first Group of Seven country to agree a renminbi swap line with the People's Bank of China last year.Britain's finance ministry said on Wednesday (Mar. 26th.) that the Bank of England and PBOC would...

NEWS 2020

Photo by: Reuters By Courtesy of BDLive Zimbabwe central bank announced on Wednesday (Jan. 29th.) it would accept the Chinese yuan and three other Asian currencies as legal tender as economic relations have improved in recent years."Trade and investment ties between Zimbabwe, China, India, Japan and Australia have grown appreciably," said Charity Dhliwayo, acting governor of the Reserve Bank of Zimbabwe. Exporters and the public can now open accounts in yuan, Australian dollars, Indian rupees and Japanese yen, Dhliwayo said. Zimbabwe abandoned its worthless currency in 2009.It accepts the US dollar and the South African rand as the main legal...

NEWS 2020

By Appleby Shanghai, Monday 28 April 2014 Appleby has become the first offshore law firm licensed to provide offshore legal advice in Mainland China where it has had a Shanghai base since 2012.To date, the leading offshore fiduciary and legal advisory firm has been delivering fiduciary services only from Shanghai. The formal announcement of a legal practice certificate opens up the opportunity in China for Appleby significantly.Appleby Chairman, Frances Woo, said: eing awarded a licence to offer clients based in China offshore legal advice from our Shanghai office is a key milestone in our strategic plan. China is of course...

NEWS 2020

Photo By: X Photos By Courtesy of Tax-news.com The Guernsey aircraft registry has welcomed the recent registration of an Airbus 319 its most significant signing since its launch in December last year. The registry, known as 2-REG, is open only to aircraft that are not currently used for commercial air transport. The launch of Guernsey's registry came despite the cancellation of plans for a joint Channel Islands aircraft registry last year. It was agreed that Jersey would launch its own aircraft registry, due to open this year, due partly to differences in the two islands' tax regimes.According to Carey Olsen,...

NEWS 2020

Photo By: Democracy By Courtesy of Lowtax.net Jersey's Chief Minister and representatives from Jersey Finance and the local regulator met with government and business representatives in China during three day meetings from April 8-10, 2014, to discuss financial services, the digital economy, and trade.Chief Minister Ian Gorst is leading the delegation, which is visiting Beijing and Shanghai.The visit was planned to follow up Gorst's previous visit to China in July 2013. "It is important that the Government of Jersey continues to engage with the world's second largest economy," he explained. "Official government visits support the creation of new business links...

NEWS 2020

Photo By: Reuters By Courtesy of China Briefing Germany Deutsche Bundesbank and the People Bank of China signed a memorandum of understanding (MoU) on Saturday that will establish an RMB settling and clearing service in Frankfurt. Coinciding with Chinese President Xi Jinping visit to Berlin, the new MoU will make Frankfurt the first hub for clearing RMB trades outside Asia narrowly beating London Bank of England, which will sign a similar MoU today.Clearing and settling are essential for international finance and entail converting a promise of payment into the actual movement of money from one bank to another.While the Frankfurt-based...

NEWS 2020

Photo by: kobrekim.com By Courtesy of Lowtax.net The British Virgin Islands' Hong Kong representative office in Hong Kong recently held its first 'Meet the Regulator' session, to expand on the territory's ties with its many clients in the region.More than 40 corporate service providers, lawyers, and other financial services practitioners attended the event, which was hosted by senior figures from the BVI Financial Services Commission (FSC). More than 40 percent of BVI business originates from China and the rest of the Asia Pacific region.The FSC announced new measures to support its relationship with Asia, including an extension to its opening...

NEWS 2020

Photo by: Jafza By jafza.ae April 07, 2014: A high-level Chinese business delegation comprising 20 businessmen representing diverse business sectors ranging from healthcare, infrastructure, energy to IT, visited Jebel Ali Free Zone (Jafza) to explore business opportunities in the region through the Free Zone.The delegation led by Lin Huanjohn, Chairman of the Industrial City of China, was received at the Free Zone by Ibrahim Mohamed Al Janahi, Deputy CEO and Chief Commercial Officer, and Khalid Al Marzooqi, Senior Manager Asia Pacific region. In his welcome note Al Janahi expressed his thanks for the delegation keen interest and their desire to...

NEWS 2020