Finance ties with Shanghai are strengthened by signing of MoU

The MoU sets out a statement of intent to support business development initiatives between Guernsey and the SFOU, provision of office and meeting room space in Shanghai, organisation of events, employee exchange programmes and registration services.

'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,' said Kate Clouston, director of international business development at Guernsey Finance, who signed the agreement with SFOU chairman Antoine Kuo at a co-hosted wealth management event in Shanghai last month.

'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.'