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Jersey Finance opened its office in Hong Kong today (October 22) to support the promotion of Jersey's financial services industry in the Asia Pacific region.
A self-governing UK crown dependency with its own laws and responsibility for setting its own fiscal rules, Jersey is located in a convenient European time - zone which covers close of business in the Asia Pacific region and the start of business hours in the US - making it an attractive location for financial services companies.
Jersey Finance is a Jersey based non-profit making organisation jointly funded by members of the local financial services industry and the island's government, and was formed in May 2001. Its key objective is to promote and develop the benefits of Jersey as an international financial centre.
The main role of Jersey Finance's Hong Kong operations - which becomes the organisation's second overseas office - is to serve as a hub for communicating the breadth and depth of Jersey's financial services across the Asia Pacific region. The new Hong Kong office will become a base for Jersey's financial industry to develop its contacts with leading financial intermediaries, regulators and government officials both in the city and in Mainland China.
Technical Director of Jersey Finance, Mr Robert Kirkby, commented, "Hong Kong is regarded as a key global financial location. We are delighted to have a physical presence in Hong Kong to help spearhead our increasing participation in financial services in the region. Jersey Finance has been visiting the region since 2005 with delegations from Jersey and the opening of an office in this city illustrates a natural extension of our growing commercial links with the Asia Pacific region."
"In addition, companies from Jersey Island have been approved, in principle, for future listing in Hong Kong. This is good news for Jersey's financial industry and is a significant step forward in our ability to attract new business from the region. This move adds weight to Jersey's reputation and demonstrates how the market in Asia views the quality and robustness of Jersey company law. Moreover, it gives further impetus to the formal opening of our office in Hong Kong," Mr Kirkby said.
Associate Director-General of Investment Promotion at Invest Hong Kong, Mr Charles Ng, warmly welcomed the establishment of Jersey Finance's office in Hong Kong. He said, "Hong Kong is Asia's undisputed international financial centre, with a well-regulated financial infrastructure and the presence of a large number of financial services companies. We believe that the opening of this new Hong Kong branch will contribute to Jersey Finance's successful expansion into the Mainland and the region."
About Jersey Finance
Formed in May 2001, Jersey Finance is a Jersey based non-profit making organisation jointly funded by members of the local financial industry and the islandˇ¦s government. Its key objective is to promote and develop the benefits of Jersey as an international financial centre. For more information, please visit (www.jerseyfinance.je).
About Invest Hong Kong
Invest Hong Kong is the department of the Hong Kong Special Administrative Region (HKSAR) Government responsible for Foreign Direct Investment, supporting overseas, Mainland and Taiwanese businesses to set up and expand in Hong Kong. We provides free advice and customised services to help your business succeed in our vibrant economy. For more information, please visit (www.investhk.gov.hk).
Ends/Thursday, October 22, 2009
Issued at HKT 19:22
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