TIME FOR THE CHINA CHALLENGE
A leading expert on business in China has urged financial companies across Norwich and Norfolk to be alert to the exciting opportunities opening up for them there. 
Sir David Brewer CMG told a Norwich audience that this region was particularly well placed for businesses across a range of financial services to take advantage as the Chinese sector became more open and liberal.
It also opened the door for trade opportunities for training and qualifications, said the Chairman of the China-British Business Council (CBBC), former Lord Mayor of London and veteran of the insurance industry.
Fig hosted Sir David’s visit at a Top Table event at St Andrew’s House, Norwich.
Fig Director Marjorie Eade said the visit added impetus to their intentions to extend the sector’s horizons and raise Norwich’s profile nationally and internationally as a centre of financial excellence.
Sir David’s presentation highlighted the trade opportunities across a wide segment of the financial sector and the help that CBBC could offer.
Speaking to leaders from the financial industry, public sector and local organisations with links with China, he said: “Working with our partners, we will position the UK:
- As the partner of choice for the provision of financial and related professional services to China
- As the location of choice for Chinese financial and related professional services companies seeking an overseas presence
- And to promote liberalisation of Chinese financial and related professional services.”
He said that with City representatives, CBBC offices and other partners, there was now a stronger, co-ordinated and cohesive team working with financial services firms to open new markets, win business and raise the profile of the UK as the place to do financial services business.
“The East of England, and specifically Norwich - where a quarter of the workforce is employed in the financial services industry - is well placed to exploit these opportunities”, he added.
East of England International, which sponsored the event, could provide the support that businesses needed to grow internationally. It worked with overseas-owned companies in the region and local businesses exporting their services and products, matching their requirements to a sector specialist or export adviser.
Sir David took questions from the audience – which also included Chris Cotton, CBBC Manager for the East of England
CBBC is a business-led partnership between government and industry with a proven track record of developing British trade in China dating back to the 1950s.
It is now the Area Advisory Group for China which delivers most of UKTI’s services and enquiries for China. Chairman Sir David is also Non-Executive Vice Chairman of Marsh and was Lord Mayor of London 2005- 2006, a role in which he continued a career of linking London financial markets with China and with Chinese business opportunities. In April, he was appointed Her Majesty’s Lord Lieutenant for Greater London.
He began his career with marine insurance company Sedgwick Collins and has been a director or consultant for a number of insurance companies around the world.
Sir David was followed at the podium by Sir Stephen Wright KCMG who gave an outline of the support offered by International Financial Services Ltd.
Sir Stephen was most recently British Ambassador to Spain and has wide experience in international diplomacy and business promotion in a range of roles in Europe, Asia and the US.
Last November, he was appointed Chief Executive Officer for International Financial Services, London, which represents the UK financial services industry and is backed by the industry, the City Corporation and UK Trade and Investment.
After the presentations guests enjoyed dinner in the conference suite and continued their discussions about the business opportunities in the emerging markets in China.
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