Thirty years ago Shenzen was a sleepy fishing village just north of Hong Kong, today it is a city of 15 million and home to a number of the biggest companies in the world, including telecoms giant Huawei. However, Shenzen, along with other cities in China, must make the shift to high technology and creative industries, as businesses move abroad in search of cheap labour.
As part of the process, China is sending a delegation to Sweden that will include representatives from the Shenzen Stock Exchange and the China Development Institute. The delegation, which will arrive in Stockholm on Saturday, will meet Nasdaq OMX, Handelsbanken and Sweden-China Trade Council representatives to find out more about Sweden’s financial system.
“Sweden’s banking system is internationally lauded. China is currently trying to reform and internationalise its banking system, and we have much to learn, particularly in risk management and supervision,” Guo Wanda, deputy head of CDI, has said.