London Mayor unveils new Beijing Office to promote global city

11 APRIL 2006

Ken Livingstone, the Mayor of London who is visiting China, opened London’s Economic Development and Inward Investment Office in Beijing today, to promote business, trade and tourism between the two cities.

Mr Livingstone said: “London and Beijing have much to learn from each other, in particular given our joint Olympic interest.  This new office is a symbol of the cooperation between our two great cities and will provide practical resources to help encourage greater economic and cultural activity”.

The UK capital has become a gateway to Europe for Chinese companies, and many businesses have chosen the UK capital city for their European and UK offices. Chinese companies have invested more in London than in any other European city, according to the Ernst & Young’s European Investment Monitor survey.

There are approximately 400 Chinese companies that have invested in business in the UK, including 160 from Hong Kong.

Recognising London’s pre-eminent position as a global financial centre, a number of Chinese companies are choosing to list shares and securities on the London Stock Exchange. There are currently 29 companies with shares listed on the London market. London’s Economic Development and Inward Investment Office aims to increase this number.

The office will also seek to encourage the number of tourists visiting London, and also increase the number of Chinese students studying in the city. There are already 7,700 Chinese students studying in London, which is more than from any other country.

The office has been planned and created in partnership with the London Development Agency, which promotes business in London for the mayor, Think London, which promotes foreign direct investment into London, and Visit London, which promotes tourism in the UK capital city.

The new office is on East Chang An Avenue, Beijing.

Notes to Editors

The office will have five main objectives:

  1. To increase the number of Chinese companies listing on the London Stock Exchange.
  2. To raise the number Chinese companies setting up their European Headquarters in London.
  3. To increase in the number of Chinese tourists visiting London.
  4. To increase in the number of Chinese students studying in London.
  5. To help promote the Olympic Games in London in 2012.

Mr Livingstone opened the office as part of a week-long visit to China with a delegation of senior executives. During this visit he will also:

  • Appoint a representative in Shanghai to promote London as a destination for businesspeople, tourists and students.
  • Meet the committee organising the 2008 Beijing Olympics to foster relations with the London 2012 committee.
  • Sign agreements between Mr Livingstone and the mayors of Beijing and Shanghai to promote their cities together.
  • Host events to highlight the attractions of London for tourists, students and the Chinese business community.
  • Encourage Chinese companies to invest in London and list shares or securities on the London Stock Exchange, where 29 Chinese companies are already listed.
  • Have meetings with organisations including the China Enterprise Confederation, Europe China Investment and Trading, the United Nations Industrial Development Organisation, the Shanghai Federation of Industry and Commerce and the Shanghai Foreign Investment Development Board.

Think London is the official foreign direct investment (FDI) agency for London which provides free, confidential and comprehensive advice to help international business locate and expand in London

London Higher is the representative 'umbrella' organisation for universities and higher education colleges in London

Visit London it is the official tourist organisation for London to promote and market London to leisure and business visitors and advocate quality improvements to tourism infrastructure and services.

Film London is an organisation created to sustain, promote and develop London as a major international film-making and film cultural capital.

London 2012 is an organisation responsible for the preparation and staging of the 2012 Olympic Games and Paralympic Games and direct liaison with the IOC on the Games.