IFSA pleased with talks in Beijing
The Investment and Financial Services Association (IFSA) believes it has helped strengthen Australia’s economic and trade relationship with China through a financial services forum in Beijing.
IFSA CEO Richard Gilbert and Deputy Chairman Jeremy Duffield presented at the forum, which was attended by PM Kevin Rudd and senior Chinese financial services regulatory officials.
Mr Gilbert says the message at the end of the forum was that China is “open for business” as is Australia.
He says the outcomes they were hoping to achieve out of the forum were “more than achieved”, with opportunities to continue talks with agencies that attended the meeting.
“The PM clearly wants some activity here,” he said. “Clearly we have a similar agenda. It is great when both the industry and government can work together.”
He says China has changed dramatically since he was last in Beijing for a conference in 1997 to talk about industry funds management.
He says China had just a few fixed interest funds at the time, with no more than one million investors.
“In 10 years the industry has grown 100-fold. They now have 100 million investors and $500-600 billion in assets, but that will dramatically escalate.”
Mr Gilbert says the forum also paved the way for an IFSA delegation of 10-12 high-level delegates to be sent to China later this year.
IFSA CEO Richard Gilbert and Deputy Chairman Jeremy Duffield presented at the forum, which was attended by PM Kevin Rudd and senior Chinese financial services regulatory officials.
Mr Gilbert says the message at the end of the forum was that China is “open for business” as is Australia.
He says the outcomes they were hoping to achieve out of the forum were “more than achieved”, with opportunities to continue talks with agencies that attended the meeting.
“The PM clearly wants some activity here,” he said. “Clearly we have a similar agenda. It is great when both the industry and government can work together.”
He says China has changed dramatically since he was last in Beijing for a conference in 1997 to talk about industry funds management.
He says China had just a few fixed interest funds at the time, with no more than one million investors.
“In 10 years the industry has grown 100-fold. They now have 100 million investors and $500-600 billion in assets, but that will dramatically escalate.”
Mr Gilbert says the forum also paved the way for an IFSA delegation of 10-12 high-level delegates to be sent to China later this year.