China and Guernsey sign cooperation statement
21 March 2016 Beijing
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The Guernsey Investment Fund Association (GIFA) has signed a memorandum of understanding with the China Association of Private Equity (CAPE) to facilitate cooperation and forge ties between the two jurisdictions.
Signed in Beijing last month, the agreement lays out a statement of intent to collaborate in training, corporate governance and research, as well as cooperating in events and public affairs.
The British Private Equity & Venture Capital Association (BVCA) Channel Islands Working Group was also a signatory.
By creating stronger ties between Guernsey and China, CAPE and GIFA intend to share their expertise in order to bring long-term benefits to members.
The agreement was signed by Li Weiqun, secretary-general of CAPE, and Kate Clouston, Guernsey Finance director of international business development.
It comes after three years of Wendy Weng, Guernsey Finance’s Asia representative, working with Li to facilitate greater cooperation, and after China Cinda Finance became the first Chinese issuer listed on the Channel Islands Securities Exchange.
Clouston said: “It is wonderful to experience first-hand the dynamic energy in the Beijing private equity and venture capital space at the moment. The industry is developing at lightning speed and we feel Guernsey is perfectly placed to offer expertise gained through our 50-year finance industry history, and to develop a standout offering suited to the multinational viewpoint required in global business today.”
She added: “The information on Guernsey was very well-received by those in attendance and we have no doubt this will greatly assist all parties involved in developing our respective industries and international presence.”
“The memorandum of understanding also provides a signal to the rest of the Asian market that Guernsey is a respected domicile for investment fund business and one that is happy to cooperate.”
Andrew Whittaker, chair of both GIFA and BVCA Channel Islands Working Group, said: “GIFA and the BVCA Channel Islands Working Group welcome the establishment of a framework for mutual assistance with CAPE. Our funds industry, particularly the private equity and venture capital space, has considerable expertise and substance to call upon which we are more than happy to share with our counterparts in China.”
“We know there is significant interest in China and Asia generally in doing business with Guernsey and we hope that this memorandum of understanding will help to facilitate those business flows, while also bringing long-term benefits to all three sets of our members as we work closer together.”
Signed in Beijing last month, the agreement lays out a statement of intent to collaborate in training, corporate governance and research, as well as cooperating in events and public affairs.
The British Private Equity & Venture Capital Association (BVCA) Channel Islands Working Group was also a signatory.
By creating stronger ties between Guernsey and China, CAPE and GIFA intend to share their expertise in order to bring long-term benefits to members.
The agreement was signed by Li Weiqun, secretary-general of CAPE, and Kate Clouston, Guernsey Finance director of international business development.
It comes after three years of Wendy Weng, Guernsey Finance’s Asia representative, working with Li to facilitate greater cooperation, and after China Cinda Finance became the first Chinese issuer listed on the Channel Islands Securities Exchange.
Clouston said: “It is wonderful to experience first-hand the dynamic energy in the Beijing private equity and venture capital space at the moment. The industry is developing at lightning speed and we feel Guernsey is perfectly placed to offer expertise gained through our 50-year finance industry history, and to develop a standout offering suited to the multinational viewpoint required in global business today.”
She added: “The information on Guernsey was very well-received by those in attendance and we have no doubt this will greatly assist all parties involved in developing our respective industries and international presence.”
“The memorandum of understanding also provides a signal to the rest of the Asian market that Guernsey is a respected domicile for investment fund business and one that is happy to cooperate.”
Andrew Whittaker, chair of both GIFA and BVCA Channel Islands Working Group, said: “GIFA and the BVCA Channel Islands Working Group welcome the establishment of a framework for mutual assistance with CAPE. Our funds industry, particularly the private equity and venture capital space, has considerable expertise and substance to call upon which we are more than happy to share with our counterparts in China.”
“We know there is significant interest in China and Asia generally in doing business with Guernsey and we hope that this memorandum of understanding will help to facilitate those business flows, while also bringing long-term benefits to all three sets of our members as we work closer together.”
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