The City: Open for RMB Business by Alderman Fiona Woolf CBE Lord Mayor of the City of London
CHINA The City: Open for RMB business BY ALDERMAN FIONA WOOLF CBE LORD MAYOR OF THE CITY OF LONDON ver the last few years, China has grown maintained the 31 per cent share of the global financial to become one of the UK’s most services market it held pre-crisis. The reason London is important economic partners, and the so resilient is because it adapts, it innovates, it invests, key to the Asian region. As the UK it stays modern and it also treats the changing shape of Oeconomy rebuilds and moves towards a prosperous the world economy as an opportunity. This includes future, trade between our two countries continues to maintaining our openness to Europe and the EU. As increase, acting as both an engine of economic growth the EU is both China’s largest trading partner and its and a vote of confidence in our partnership. Bilateral largest export market, London, Europe’s financial trade in goods and services between the two nations capital, is uniquely well-placed to function as the reached £46.6bn in 2012, with UK exports of goods gateway to Europe for Chinese companies looking to FIONA WOOLF and services to China reaching £13.7bn, up 10 per cent expand their overseas operations. The welcome recent qualified as a solicitor in from the previous year, and exports from China to the news that Chinese banks, along with those from other 1973 and worked in the UK accounting for £32.9bn foreign countries, will be able to apply to function as corporate and banking This growth has been possible because of the branches and not as subsidiaries means that this growing fields at Clifford Chance increased openness of the Chinese market, and this businesses community already comprising some 400- before becoming a openness will drive our relationship forward, developing 500 Chinese enterprises, will be able to take advantage partner at CMS Cameron China’s capacity as a financial centre and partner for the of the full range of wholesale banking products offered McKenna in 1981.
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