Ire­land’s wind­fall from Brexit

China Daily (Canada) - - VIEWS - By CECILY LIU in Lon­don cecily.liu@mail. chi­nadai­

Dubli­nis stealinga­mar­chon ink­ing closer ties with the Chi­nese fi­nan­cial ser­vices sec­tor, lever­ag­ing on the un­cer­tainty cast on Lon­don’s fi­nan­cial ser­vices hub by Brexit.

The Ir­ish gov­ern­ment scaled up dis­cus­sions with Chi­nese com­pa­nies in the months af­ter theUKvoted to leave the Euro­peanUnion in a ref­er­en­dum in June. Ire­land now ex­pects to see the first ap­pear­ances of as­set man­age­ment firms and Chi­nese banks in Dublin in the com­ing months.

“We’ve ex­plained to Chi­nese banks and as­set man­agers that Dublin will be a very good gate­way for them to ac­cess the Euro­pean mar­ket af­ter Brexit,” said Paul Ryan, di­rec­tor of in­ter­na­tional in­sti­tu­tions, at Ire­land’s De­part­ment of Fi­nance.

“Those talks be­came more prom­i­nent since the ref­er­en­dum vote and some Chi­nese firms

Ryan stressed that Ire­land had key ad­van­tages, in­clud­ing its use of the English lan­guage, its com­mon law frame­work and an open-for-busi­ness gov­ern­ment, all of which gave it a lead in the com­pe­ti­tion against Paris, Frank­furt and Lux­em­bourg to grab fi­nan­cial ser­vices from Lon­don postBrexit.

Ryan was speak­ing on the side­lines of the Dublin-based Euro­pean Fi­nan­cial Fo­rum on Tues­day, which was at­tended by about 500 global par­tic­i­pants.

Mean­while, Ire­land also re­cently ap­plied for mem­ber­ship of the AIIB. Ryan said a de­ci­sion is ex­pected around April. have ex­pressed in­ter­est.”

Those talks be­came more prom­i­nent since the ref­er­en­dum vote...”

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