Liu Xiaoming, China's ambassador to the UK, delivers a keynote speech at Bloomberg's international China investor roadshow in London on June 15, 2017. [Photo/China Daily.]
Bloomberg hosted its international investor roadshow,named China: Navigate the New Silk Road, in London on June 15, 2017.
More than 130 high-profile movers and shakers from market and financial institutions attended, along with officials from China and the United Kingdom.
They discussed China's economic outlook, and the investment opportunities and challenges in China's bond and equity markets.
Liu Xiaoming, China's ambassador to the UK, said: "The Belt and Road Initiative is helping to shape open, global cooperation. In building the Belt and Road, the UK and China have every reason to join hands."
He said the UK's strengths – experience, knowledge, and creativity – will find a good match with China's strengths, which he listed as its unique growth model, technology, and marketing capability. Liu said such cooperation would help London further consolidate its standing as a global financial center.
At present, London is the largest renminbi offshore market outside the Chinese mainland, something Liu believes will present opportunities for both countries to mutually prosper by increasing market connectivity.
As of March 2017, data from the Society for Worldwide Interbank Financial Telecommunication shows that, more than 36 percent of RMB transactions were conducted in the UK this year. Last year, China chose London for its first-ever sovereign RMB bond insurance outside China.
Constantin Cotzias, Bloomberg's global head of government affairs, said: "China's bond market is the world's third-largest bond market at over US$9 trillion. It is vast, it is complex, and it cannot be ignored.
Cotzias said he believes China's Belt and Road Initiative, which calls for major investment in new infrastructure, from Asia to Europe and Africa, and the opening-up of China's financial market together present enormous opportunities to global investors.
As part of the roadshow, panel discussions were held about the opportunities and challenges found in China's bond and equity markets, with speakers from Aberdeen Asset Management, Bank of China, China AMC, China Europe International Exchange, Hefeng Family Office, HSBC, ICBC Standard, and Bloomberg all taking part.
Bloomberg's market specialist Rachel Li introduced the recently launched Bloomberg RMB Bond Suite to investors in London. It is the industry's most advanced set of tools for onshore and offshore investors tracking China's bond market.
It was the sixth year that Bloomberg has brought its signature International China investor roadshow to London. It will visit more than 10 cities worldwide in 2017, providing platforms for global investors to better understand and appreciate opportunities for investing in China.