Seminar held to gauge the impact of Brexit

By Wang Yanlin | July 14, 2016, Thursday |

Online Edition

The exit of Britain out of the European Union will offer both opportunities and challengers for Chinese traders and investors, said scholars during a recent seminar hosted by the National Institute for Finance and Development.

“Chinese traders and investors can benefit from a weakening pound and euro in a short term,” said Lian Ping, chief economist at Bank of Communications. “It can help to bolster the country’s staggering economy to certain extent.”

But in the long run, Chinese traders and investors may have to find new partners to sustain their business in the EU, Lian said.

Cheng Lian, editor in chief of Financial Comment, said both Britain and EU countries will give more importance to China in the future due to the demand of reorganizing economic relations between counties.

But Shao Yu, chief economist at Orient Securities Co, said the Brexit suggested a full-flung retreat of globalization and may induce many complications for countries around the world.

Such seminars will become regular events by the National Institute for Finance and Development, which meant to help Shanghai grow into a global financial center.

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Seminar held to gauge the impact of Brexit

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