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October 26, 2009

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Guernsey keen to ink MOU

GUERNSEY island launched its representative office in Shanghai yesterday and is prepared to sign a memorandum of understanding with the city's government to enhance cooperation between the two sides.

"The MOU is a framework for future cooperation between Guernsey and Shanghai, including personnel exchange and business flows," said Peter Niven, CEO of Guernsey Finance. Guernsey is also looking forward to cooperate with Chinese financial regulators under the MOU.

"Guernsey's business mode can enlighten Shanghai to develop its own offshore business in Yangshan Deep-water Port," Fang Xinghai, director of the Shanghai Financial Service Office, said at the opening of Guernsey's Shanghai office.

Guernsey, the 24-square-mile island, is British Crown Dependency with a population of 60,000.


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