BRITISH FINANCIAL AND INSURANCE INDUSTRY

The whole service including finance inside is the biggest productivity of the British economy; sharing 75% of total labor force, number of employees reaches to 21 million. In 2006, it occupied 70% of British increment. The British finance has the development history for more than 300 years. Currently, within the country, in addition to the 6 financial bargain centers in Edinburgh, Manchester, Cardiff, Liverpool, Leeds and Glasgow, London is not only biggest financial centre in Europe, but also is one of the three greatest financial centers in the world, its character are:

·It has the most foreign banks registered.
·The biggest foreign stock trade market in the world, accounting for 58% of total trade amount.
·The biggest foreign exchange trade market in the world, accounting for 40% of total trade amount.
·The biggest funds management center in the world.
·It is one of the biggest insurance markets in the world.
·It is the main primary and secondary euro trade market.
·It is the most important privatization problem consultation center.

Among them, the financial servicing business account for 6% of British GDP, and employing 1,000,000 personnel. The oversea net income reaches to 51.2 billion pounds in 2006, which has made a new historical record. The financial servicing business includes banking, insurance industry, investment management, financial market (stock trade market, euro market, foreign exchange market, futures trade market etc.)

(1) Banking service business

Until the end of December 2006, there are 315 banks in Britain are granted to accept savings, 103 banks of other nations in Europe opened deposit service in Britain, Britain is the biggest international banking market, sharing 20% of world total amount. About 80 nations are opening branch office or representative here.

The four biggest banks in Britain are including Hongkong and Shanghai Banking Corporation (HSBC), LIoyds Bank, Royal Bank of Scotland and Barclays Capital.

An investment bank provides a series of professional financial services, which including the company finance and property management. A main consultation service is providing financial services especially to company combination, also providing opinions to other forms of company regrouping. In addition, an investment bank still provides privatization consultation to the government.

(2) Investment industry

Britain is holding special knowledge of funds manage. The main investment fund includes pension plan, life insurance, unit trust fund, and the open type investment company and investment trust. According to the covariance, the British property manages total amount of money to reach to 28,000 billion pounds in 2006. The old age pension is the main investment source of stock market, having 22% of total stocks in London stock trades market. Until December 2006, there are 1800 approved unit trust fund and open investment company, managing amount of money reaches to 354 billion pounds. Britain owns 350 investment trust funds, is the biggest block that appears on stock exchange market in London.

Basic on the nearest updating information of U.K. National statistic bureau, essentiality of finance and commerce is becoming the significant support in U.K. which has accessed manufacturing. In 2006, banking, insurance, management consulting and finance service company had create £360.9 billion ponds of treasure which is 30.2% of total value of national treasure and almost twice of manufacturing which is 14.8%.

In the interest of controlling risk, The Laiman Investment Worldwide UK Co Ltd has completely segregated the marketing department and investment examining and evaluating department. Meanwhile, set up the investing item management decision committee. Each single investment would be processed by investment examining and evaluating department and the vote of board of directors.

Foreign investment is a vital component of the Open Policy of China. Canvassing business and capital indrawal is development demand, situation tend, morale direction. It not only made up shortage of funds in Chinese domestic construction, but also fetched in great advanced, applied technique, talented person and managing experience. It has pushed forward China to open a development of economy, accelerated the growth of Chinese high and new technique industry. The foreign company invested a business enterprise to create more employment opportunities, developing large quantity of talented persons, increasing national revenue from tax and foreign exchange income, raising the international competition ability of Chinese economy, strengthening the comprehensive national strength of nation, have become indivisible important organization part of Chinese national economy and the new growth industry of national economy. It has made a great contribution on the continuous fast stable development of Chinese economy.

 
Required document for item declaring

Introduction of corporation
The item established approval document
The tem particular layout
The fund usage plan
Complete and transparent financial report
Upstanding 2-3 years operation record, the exterior independent audit report and reliable accounting information, etc. (new items might not provide temporarily)
The business enterprises should have positive moral image, behavior or commitment
Business enterprise legitimacy data