- The Chief Minister has signed an MOU on developing economic, trade and technical co-operation between the Isle of Man and the Tianjin Binhai Hi-Tech Industrial Development Area;
- Agreement has been reached with the Chinese Securities Regulatory Commission to sign an MOU with the Financial Supervision Commission later this year in the Isle of Man;
- And the Chief Minister has opened dialogue with the vice-chairman of the China Insurance Regulatory Commission on developing an agreement to support greater cooperation between the insurance regulators in our two countries.
The Chief Minister said: ‘The Chinese people have been very open, friendly and eager to learn more about the Isle of Man’s business proposition across a range of sectors. It takes time to develop links in China and personal contact is essential. I believe this delegation has helped to build trust and understanding, and further cement the Island’s relationship with one of the world’s economic superpowers.’
He added: ‘We need to recognise that the Isle of Man is in a fiercely competitive environment when it comes to attracting new business. Everybody is targeting China as it is on course to become the largest economy in the world within the next few years. There are huge opportunities to benefit from that growth, even for a small nation such as the Isle of Man. That is why missions of this nature are so important.’
‘Economic growth remains my top priority for the Island to sustain job opportunities, living standards and funding for public services. That’s why I’ve been so encouraged by the success of this delegation.
‘There is still a lot to do, but the Government and private sector are committed to working together to bring more Chinese business to the Isle of Man.’
This story comes from Isle of Man Today.