BVI: BVI financial services to host trade show in China

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.

21 August 2024

CHINA: China’s supreme court alters AML law to encompass virtual assets

The Supreme People’s Court of the People’s Republic of China (SPC) has reworked its interpretation of the region’s AML laws to include virtual asset transactions. As part of a conference that

Read More
18 October 2024

EUROPE: Tax on Europe’s frequent flyers could raise €64bn a year

A “jet-setter” tax on Europe’s frequent flyers could slow global heating and raise €64bn (£54bn) a year at no extra cost to most people, a report has found. Carbon pollution pumped out of planes

Read More
7 February 2024

MALAYSIA: Former Malaysian finance minister charged following Pandora Papers revelations

Daim Zainuddin is among several high-profile Malaysians whose offshore wealth has come under scrutiny by Malaysia’s anti-corruption agency. Malaysian authorities have charged former finance minister

Read More
19 February 2024

EU: European Tax Experts Urge for Radical Tax System Simplification

In an effort to improve competitiveness, European tax experts are pushing for a major tax system overhaul. The current complexities cost EU members significant revenue and hinder cross-border investment.

Read More