JERSEY'S GROWING LINKS WITH CHINA
By Geoff Cook
Jersey's financial services industry is ideally placed to
support the needs of corporate and institutional business and
private clients in Greater China.
Through our ongoing engagement with intermediaries, lawyers and
financial advisers, this message is now being conveyed more
effectively than ever. The opening of a Jersey office in Hong Kong,
the sizeable delegations visiting the region on a regular basis and
the increasing banking deposits from the Far East now lodged with
Jersey banks all demonstrate our growing links with Greater
China.
Banking deposits in Jersey are currently at £167 billion.
Almost 60% of the total value of deposits in Jersey banks is held
in non sterling currencies and 20% is from emerging market
economies. Most pertinent to current trends is that the Far East
now accounts for over 6% of total banking deposits, which is nearly
double last year's figure.
