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British offshore financial center looks to join Shanghai FTZ
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A PROMINENT offshore financial center is seeking to set up an office at Shanghai’s pilot free trade zone, offi-cials from the center said.
Guernsey International Finance Centre hopes to enter the free trade zone to provide financial services to com-panies in the zone, said Peter Harwood, the chief minister of Guernsey.
The financial island is a British Crown dependency in the English Channel off the coast of Normandy. It covers approximately 24 square miles and has a population of just over 60,000 people.
Harwood led a visiting team from the center to Shanghai late last month to talk with local government officials.
“However, Shanghai Vice Mayor Tu Guangshao said detailed polices of the zone have yet to be issued, so it is a bit early to discuss details of the plan,” Harwood said. He said the center also hopes to assist the Chinese gov-ernment with making financial regulations for the free trade zone.
The center set up an office based in Shanghai at the end of 2009. Shanghai’s Yangshan Free Trade Port Area has been using some of the methodology developed by the center.
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