Malta Seeks To Attract Chinese Financial Services

By Editorial 23 October, 2013

Malta's Finance Minister, Edward Scicluna, said that the country should seek to attract a Chinese financial institution since financial services in China were now operating on a global level playing field.

Mr Scicluna made the comment during the annual General Meeting of the Maltese Chinese Chamber of Commerce, held on Friday October 18, 2013, according to a government press release.

"I will strive as Minister of Finance to attract Chinese financial services to Malta. Such a possibility would boost Malta's attractiveness to Chinese investment in the region, and boost the Renminbi (RMB) as an international currency. Through such a strategically placed location Malta could offer itself as a gateway to Chinese investment in the region," Mr Scicluna said.

During his address, Mr Scicluna noted the historically strong friendship between Malta and China, and said that over the past six months, this has now been elevated to a higher level.

Mr Scicluna emphasized that Malta, as well as the European Union as a whole, must accept the current global realities. "China is a young dynamic economy reflecting its youth, while Europe is a graceful though more mature economy, sometimes exhibiting some sclerosis as well. This is why such partnerships are important, as the mix of abilities and experience and strategic characteristics of each partner result in a strong business relationship," he said.

On October 03 the finance minister said that his country is seeking to broaden its financial sector. "Malta is constantly on the lookout for new opportunities to increase the breadth and depth of its financial services infrastructure, not least its securities markets," he said.

Tags: Finance | Tax | Investment | Business | Malta | Financial Services | International Financial Centres (IFC) | China | Offshore | Services | Expats | Europe |


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