Britain's Chancellor of the Exchequer George Osborne delivers a speech at the Shanghai Stock Exchange.
George Osborne leaves the stage after holding a speech at the Shanghai Stock Exchange in Shanghai.
SISU students were invited as student representatives to the recent Shanghai visit of George Osborne.Fifty-three students of SISU’s School of Economics and Finance were invited as student representatives to the recent Shanghai visit of George Osborne, the British Chancellor of the Exchequer, at Shanghai Stock Exchange (SSE), an iconic trading hall for China's capital market.
It was notable that Osborne picked SSE as his speech site to convey the information that the UK wished to help China fit in Western financial markets. UK is a great power with stable developed economy, whose open-mind and enthusiasm to invest in China were delivered in his speech.
Osborne presented a positive attitude towards Sino-UK economic relationship in his speech. He emphasized UK’s attention and expectations of the RMB internationalization and gave Chinese economy high evaluation by calling it still “the engine of the world economy”.
He announced again that China and the UK are exploring the launch of a stock trading link between the Shanghai and London stock exchanges, and Britain would utilize London’s status as a traditional financial center to help internationalize RMB.
Osborne considered UK to be capable to provide China with both goods and high-class services needed in its future development, including film & TV field and financial field.
“For example, works like Downton Abbey and the James Bond series can be exported to China; institutions like KPMG and Price Waterhouse Coopers can provide supports and advices for China’s growing enterprises; financial institutions like HSBC and Standard Chartered Bank can offer services. Besides, we also looking forward to helping construct airports or other cooperation.” The Sino-UK cooperation will also fuel UK’s economic growth.
When answering the questions from the audience, Osborne said he hoped that China would arrange more UK visas to give Chinese more access to travel or study in the UK, which could promote UK’s employment, productive forces, and economic growth.
The speech left great impression upon the students, who begin to ponder more about close mutual connections among the world economies, also the growing importance of China.
