Work to improve relations with China is paying off

RELATIONS between Guernsey and China continue to strengthen, primarily through the efforts of the Guernsey Finance representative in Shanghai.

Wendy Weng

RELATIONS between Guernsey and China continue to strengthen, primarily through the efforts of the Guernsey Finance representative in Shanghai.

Wendy Weng, pictured, has been the island’s permanent presence in China since 2007 and as well as supporting and organising delegations to the country, she often attends financial sector events in the region as the agency’s representative.

At the Guernsey Finance annual update, she highlighted more signs of progress in securing business from China.

She said that the Chinese market was becoming more aware of opportunities in investment funds and insurance, and particularly wealth management, trusts and family wealth, including the establishment recently of its first family trust company.

‘They are gradually accepting the family trust concept, but Guernsey still has an advantage, as China’s new legislation has a 50-year time limit and we would expect inheritance tax to be introduced in China in due course.’

Comments for: "Work to improve relations with China is paying off"

Morals before money

That's great, while China is taking so much notice of us perhaps we can ask them to stop persecuting, torturing and murdering their own citizens? 2,000 people tortured to death in custody just for practising Falun Gong, should we really do business with people like this?

BadDonkey

Russia should be tapped for business.

BRIC is a good future for industrious markets for Guernsey , States slow of the bat again.

JohnT

I am doing my bit by buying everything made in China.

Paul

Really, where is the proof of the business that has come to Guernsey, all I have seen is China looking at offshore areas as a way of strengthening their own facilities.

I'd like to see what the cost of maintaing Ms Weng is and a report to see if this is money well spent.

glenwood

China is on the march.

They are hungry for extra territory to dominate as they are doing in Africa.

They do not believe in charity and demand payback for any investments they make.

PLP

There's plenty of stories coming out of Africa to back that up Glenwood. It's looks worryingly like colonialism all over again.