Following the UK-China Green Finance Taskforce meeting in London last year, the UK and China have been partnering to bring green finance closer to the real economy through green and clean technology.
These efforts were bolstered on Saturday 23 March, when representatives from the City of London Corporation and Beijing Government signed an agreement to set up the London-Beijing Green Technology Investment Gateway.
The Gateway will provide a platform for cross-border investment in green technologies. A physical presence in Tongzhou in Beijing will provide a market entry point for UK and international green technology companies establishing in the Chinese market. A reciprocal arrangement in London will support Chinese green technology companies to reach the global market. The Gateway will be reinforced by investment funds in London and Beijing.
The City of London Corporation and Beijing Government will establish an Advisory Board co-chaired by the GFI’s Sir Roger Gifford and Dr Ma Jun, from China’s Green Finance Committee. The Advisory Board will be charged with preparing a strategic plan for the Gateway. The City Corporation has retained SYER – a firm of investment specialists – to ensure the Gateway meets the expectations of international companies and investors.
Lord Mayor of the City of London Peter Estlin said:
“This project is about linking green finance to sectors in transition. It represents an evolution in the UK and China’s green finance leadership, and a real opportunity to drive commercial and sustainable cross-border activity.”
Esteban Abad, CEO SYER Advisers said:
“We have been engaging with key investors and corporates on the ground in China and the UK and the investment opportunities are compelling. We are encouraged by the enthusiasm and commitment to this project and we look forward to working with key parties on the Gateway to help deliver this strategic cross border project successfully.”
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