China Offshore Banking and Financial Services Summit

Over sixty banking executives, lawyers, accountants and officials from the State Economic and Trade Commission, and the People's Bank of China assembled in Shanghai for the two day China Offshore Banking and Financial Services Summit.

The Government of Anguilla, at the request of organizers, presented "The Challenges and Opportunities of Developing an International Offshore Banking Center: The Unique Experience of the Governmant of Anguilla - Lessons for China Offshore Banking."

"China and most Asian nations are in a different economic cycle and need to explore ways to continue to attract capital from outside sources to ensure their continued development," says John Lawrence, Director of Financial Services for the Government of Anguilla.

Anguilla, while a fraction of the size of China, is in a significant position to compete as a financial center due to the advent of new technologies, global communication and the Internet.

The new Anguilla Commercial Online Registration Network (ACORN) scheduled for launch this fall is an example of such technology and will bring instantaneous company formation business to the island from around the world, 24 hours a day.