FX Broker with a lot of business in China? Good news as Chinese government now offers multiple-entry visas for UK citizens
Britain’s diplomatic relationship with China is improving constantly, especially after Chinese President Xi Jinping’s visit to the UK late last year during which he pledged an investment of over £40 billion from China in order to fund massive infrastructure and business development in the UK. For London’s financial sector, notably the interbank FX desks of […]
Britain’s diplomatic relationship with China is improving constantly, especially after Chinese President Xi Jinping’s visit to the UK late last year during which he pledged an investment of over £40 billion from China in order to fund massive infrastructure and business development in the UK.
For London’s financial sector, notably the interbank FX desks of the Square Mile and Canary Wharf as well as the established FX and CFD companies in London with whom China’s vastly important network of introducing brokers aspire toward doing business, doing business is about to get easier as China for the first time ever is now allowing two year multiple-entry visas to British citizens, therefore enabling more than two trips in six months without a trip to the Chinese embassy.
A reciprocal arrangement, the new ruling also means that Chinese citizens also can also make multiple visits to the UK without renewing a visa for two years, however it is very much common practice for brokers in the West to visit Chinese IBs in China rather than for them to come to London, as the brokers are looking to develop business, not the introducing brokers in most cases.
Today, President Xi Jinping attended a UK-China business summit at Mansion House in London with David Cameron, where the focus was on investment, infrastructure and innovation, three tenets critical to Chinese business and around which London may well become a very strong partner internationally.
Having researched the requirements of many large IBs in China, high on the list of requirements when looking for a brokerage with which to place business, FinanceFeeds notes that British FCA regulation, listing on a public stock exchange, and establishment for over 10 years are among the top criteria, placing Britain’s firms in favor.
British Prime Minister David Cameron yesterday spoke at a press conference with regard to the decision
“A strong relationship is in both our countries’ interests, not just because it brings investment and jobs and higher living standards for our peoples – vital though these things are. The more we trade together, the more we have a stake in each others’ success and the more we understand each other, the more we can work together to confront the problems that face our world today.”
