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UK to train Chinese financial regulators

Trade and Industry Secretary Stephen Byers has announced the UK Government is to establish a training programme for financial regulators in China.

The move follows on from the recent G7 summit in Cologne which agreed measures to overcome the weaknesses which caused financial crisis in Russia and Asia two years ago.

Addressing the Shanghai Chamber of Commerce Byers said: &#34The City of London has justified world-wide reputation in the field of financial services and regulation. With the backing of British Invisibles, the Department of Trade and Industry and British Trade International will support financially the training of 15 senior financial regulators from China.&#34

&#34As the economy in China becomes more open and as its reform programme gathers pace, it is vital that the financial structures and practices adopted have the confidence of the international community.&#34


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