22nd October 2024 – The British Chamber of Commerce Shanghai (BritCham Shanghai) recently hosted a breakfast roundtable in collaboration with TheCityUK, welcoming industry leaders from banking, asset management, law, accounting, and consulting sectors, alongside key figures from both the UK and China’s financial and professional services landscape.
TheCityUK is a leading industry body representing the financial and related professional services sectors in the UK, working to promote the industry’s role in driving growth, innovation, and international trade. Focused on fostering relationships across global markets, TheCityUK collaborates with organisations and government entities worldwide to advance policy, economic development, and industry standards. Its efforts encompass areas such as banking, asset management, insurance, and legal services, highlighting the UK’s position as a world-class centre for financial expertise.
The roundtable focused on UK-China economic ties and discussed how sustainable finance, regulatory cooperation, and talent development can drive mutual growth in an ever-globalising market. The meeting opened with an overview of recent economic trends influencing UK and Chinese businesses. Nicola Watkinson, Managing Director of TheCityUK, shared insights into the financial services landscape, spotlighting banking, asset management, and professional services like law and accounting as essential areas where collaboration can unlock further growth. As both economies navigate a complex and rapidly changing global environment, these sectors were acknowledged as the key not only for supporting domestic growth but also for enabling cross-border trade.
A major theme was how financial services can act as a bridge between the UK and China, with the UK’s regulatory frameworks and expertise offering useful models for China’s evolving financial sector. Many participants pointed out that the UK’s experience in fostering open and well-integrated markets could benefit China’s current phase of capital market development, where smoother pathways for foreign firms would support growth and innovation.
Also, discussions centered on sustainable finance, with both the UK and China working toward net-zero goals by 2060. Nicola Watkinson, managing director of TheCityUK, emphasised TheCityUK’s commitment to supporting Environmental, Social, and Governance (ESG) standards, especially through green finance and carbon trading.
Attendees agreed that effective action on climate change necessitates international partnerships and were eager to explore ways to combine strengths in this “untapped area,” as one participant described it, with the UK’s green finance expertise complementing China’s drive for sustainability.
The need for talent and skills development in sustainable finance was another key topic. As both markets expand their focus on green finance, the demand for professionals skilled in ESG, international accounting standards, and carbon markets is rising. Participants emphasised the importance of upskilling to build a workforce ready for the demands of sustainable finance and the globalised economy.
The roundtable concluded on an optimistic note, with BritCham Shanghai and TheCityUK expressing gratitude for the productive discussions and strong turnout. “Today’s event highlighted real opportunities for collaboration between the UK and China, particularly in sustainable finance and market accessibility,” said Stuart Dunn, Executive Director of BritCham Shanghai. With further dialogues on the horizon, the roundtable proved an important step in fostering a shared vision for growth and sustainability in UK-China relations.
Breakfast Roundtable – Group Photo
Stuart Dunn, Executive Director, BritCham Shanghai and Nicola Watkinson, Managing Director, TheCityUK in the Roundtable
Breakfast Roundtable in the morning
