Beijing Financial Street and the City of London are looking to have more partnerships in the innovation of the financial services sector to seize opportunities from China’s further opening-up and development of new technologies.
Beijing Financial Street, home to a Cluster of financial and professional services providers, will be at the forefront of implementing the new measures China announced in July to further open up its financial markets, Sun Shuo, District Mayor of Xicheng District of Beijing, said at a Financial Forum in London.
Beijing Financial Street and the City of London have launched platforms for exchanges between governments, markets and institutions based on the principle of open and inclusive cooperation for win-win results, Sun said.
“As China becomes one of the best investment destinations in the world, Beijing Financial Street is willing to seize the opportunities and offer the most favourable business environment for global professional institutions to settle there,” Sun said.
Addressing the forum, Alderman Vincent Keaveny of the City of London said the City of London is a longstanding partner of Beijing Financial Street and both sides are helping their fintech innovators access to each other’s market.
Keaveny said the UK-China Green Finance Taskforce is a key project for the City of London Corporation endorsed by the two governments for its efforts to secure green and sustainable finance and investment for the Belt & Road Initiative.
“The City of London continues to ensure London remains the leading RMB clearance centre outside Greater China and we want to continue to share our experiences with China as partners,” he said.