Minister for Financial Services Lorna Smith has announced that the BVI intends to host its first financial services trade show in Shenzhen, China in early 2025, as the jurisdiction seeks to strengthen ties with one of its biggest markets.
Minister Smith, who is currently on a trade mission in Asia, said the show would focus on industries including fintech, blockchain, artificial intelligence, electric vehicles, and decarbonisation.
The minister made the announcement during a meeting with the China Council for the Promotion of International Trade (CCPIT), which serves to foster international economic and trade cooperation.
The meeting focused on trade promotion development between the BVI and Shenzhen (a Chinese city), with a focus on the synergy between BVI’s financial services industry and Shenzhen’s industrial base.
Representatives from Shenzhen’s China Chamber of Commerce and a host of other representatives were in attendance to discuss key issues with the BVI government.
They noted that while many Shenzhen-based companies are utilizing BVI structures, there are additional opportunities for the expansion of BVI business in that city.
They said flexible financial tools are necessary for high-tech development such as artificial intelligence and the production of green energy in Shenzhen.
Deputy Premier Smith said, “I am grateful to CCPIT for hosting such an insightful and valuable meeting. Deputy Director-General Haboo Yang was vibrant and eager to strengthen the engagement between the BVI and Shenzhen’s technological developments.”
As part of the discussion with BVI officials, Shenzhen officials highlighted that there are 77 BVI-domiciled Shenzhen-based companies which combine for a value of USD 3 billion in investments.
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