Lord Mayor of London Ian Luder told Shanghai Securities News?Tuesday that China Investment Corporation (CIC) is seriously considering investing in Britain. He also welcomed the fact that the China's National Council for Social Security Fund (NCSSF) and CIC are to set offices in London in order to disperse their investments.
During the Boao Forum held in April, Board Chairman of CIC Lou Jiwei stated that CIC would think about investing in the European market and had actually set some potential targets, stressing that the investment would be prudent and properly-sized.
Ian Luder released that the Agricultural Bank of China (ABC) will upgrade its London office. So far, the Industrial and Commercial Bank of China (ICBC), Bank of China (BOC), China Construction Bank (CCB) have all set branches in London. Britain welcomes all kinds of investment, and some day the China-funded banks may invest in British market through buy-ins, noted Ian Luder.
Encouraging medium and small-sized enterprises to enter the London stock market is one of the aims of Ian Luder's China tour. According to him, Chinese enterprises will benefit from being listed in both domestic and abroad markets as their financing can be increased and their overseas image can also be boosted, which will help them to perform well in overseas corporate buy-ins.
Ian Luder also confirmed that despite the severe problems in the British banking industry, confidence is recovering due to the strong risk-resistant ability of London's financial market.
http://paper.cnstock.com/html/2009-06/03/content_70939136.htm
(China.org.cn by Fan Junmei June 3, 2009)
