Guernsey's fund industry pledges closer ties with China
Officials from Guernsey have pledged to work more closely with Beijing’s private equity and venture capital space.
A statement from Guernsey’s Investment Fund Association (GIFA) on Monday said that a memorandum of understanding had been signed with the China Association of Private Equity (CAPE).
The agreement sets out a statement of intent to work on training, corporate governance, events, research and public affairs.
Fund industry experts from both jurisdictions have been working together to build investment for years.
Back in 2013, Guernsey’s financial services regulator, the Guernsey Financial Services Commission, signed an MoU with China's Securities Regulatory Commission (CSRC).
Guernsey has also grown its links with both the Asset Management Association of China (AMAC) and the China Association of Private Equity (CAPE).
The island, which has about $0.5trn worth of funds under management and administration, was home to the first ever Renminbi focused bond fund.
Chinese corporate entities can use the island's offering to establish a Guernsey domiciled investment fund which invests into the UK or to set-up a Guernsey-based entity to access UK capital markets.
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