The Government of the Virgin Islands has indicated that it is ready to continue to working with China in the deepening of business relations between the two countries.

This was highlighted during the recently held Qianhai-British Virgin Islands (BVI) Cooperative Development Forum in Special Hall, Qianhai Vanke Corporate Mansion, Shenzhen on May 26.

The forum was hosted by Deputy Directors-General of Qianhai Authority: Mr. Li Qiang, Mr. Peng Shuping, and Ms. Tian Min, who provided updates on Qianhai’s latest developments, achievements and future plans.

Over 200 financial practitioners and enterprise representatives participated in the forum which was themed, “Development for cross-border finance under new economic circumstances.” Topics related to the BVI business opportunities, legislation, and Qianhai-BVI cooperation were widely discussed.

Director of BVI House Asia, Ms. Elise Donovan delivered the keynote speech titled, “The BVI – Your International Business Partner”, and introduced the British Virgin Islands financial services and advantages.

The director listed the advantages of using BVI company structures and the diverse usage of BVI companies in asset protection and wealth/fund management and showed the BVI is ready to work with China to deepen bilateral relations and open a new era of future success.

Ms Danovan said, “Qianhai has made remarkable strides in its economic development in a relatively short time, and the BVI’s proven track record in financial services provides a platform for success for the BVI-Qianhai relationship.”

The delegation to the Forum was led by BVI House Asia, and was comprised of ten members including leading practitioners from Team BVI Asia.

Sales Manager of the TMF Group, (Greater China Region) Ms. Amy Xu, and General Manager of Coverdale, Ms. Abrehart delivered presentations at the forum to further explain the BVI companies’ services and features. Ms. Xu shared the features of BVI companies and their advantages, while Ms. Abrehart highlighted the BVI’s VISTA trust structure and described how these tools can help business owners and high net worth individuals plan their businesses or manage their private wealth.

A panel discussion titled, “How to promote the interaction and development of Qianhai and BVI cross-border financial business,” was also held and the panel explored the topics of cooperation between Qianhai and the BVI. The session was moderated by Vice President of the China Development Institute Qu Jian and was attended by representatives from Qianhai and the BVI.  

Premier and Minister of Finance, Dr. the Honourable D. Orlando Smith, OBE while reflecting on the outcome of the forum stated, “The successful first official forum between Qianhai and the BVI creates a platform for mutual success going forward, and paves the way for further cooperation and development between the BVI and Qianhai.”

The British Virgin Islands is ranked as the leading offshore financial jurisdiction in the Global Financial Centres Index, and China continues to be the Territory’s important partner in Asia.