THE Department of Economic Development has said a recent trip to China was successful in raising the profile of the Isle of Man in the country.
The visit was arranged by the department as part of the country strategy which has been developed in conjunction with the private sector.
It is designed to target those countries which have been proven to have the highest potential for developing new business. Other regions involved in the strategy include the Middle East and Russia.
Tim Craine, business development agency director, Michael Charlton, executive director of international business development, and Steven Beevers, the head of special projects, made up the delegation that travelled to China.
They tested and refined three specific propositions that have been developed to appeal to a Chinese audience including a model for importing goods into the UK and EU, access to capital markets for Chinese companies looking to float on the stock market and wealth management solutions.
The delegation visited Beijing and Shanghai and a number of Chinese ministries including The Ministry of Commerce, China Council for the Promotion of International Trade and the China Banking Regulatory Commission.
Meetings also took place with the China British Business Council, accountancy firms, banks and lawyers.
Tim said: "It was encouraging that the propositions we were presenting received such widespread interest and that there is a real interest in learning more about the Isle of Man and how we can add value to Chinese businesses in a number of key areas."
Economic Development Minister Allan Bell said: "I am delighted that the visit to China was such a success. The Island still needs to do more to raise the profile of its benefits in key market target areas such as China. Only by pro-actively looking further afield will the Island succeed in further geographically diversifying the economy."
A return visit to China has been planned for next month but this time members of the local business community will also travel.
There are also a number of individuals and groups who are planning to visit the Island from China.
The next meeting of the China Forum Country Strategy Group is planned for Thursday, September 22. Anyone wishing to find out more should contact Steven Beevers by e-mailing steven.beevers@gov.im.
Picture caption: L to R - Steven Beevers and Michael Charlton with President L I Jianping, Tim Craine and senior members of the Chinese People's Association for Freindship with Foreign Countries.
