City of London Lord Mayor Addresses BritCham Members

Published on 2011-04-19

British Chamber members attended the City of London Lord Mayor Luncheon on 12 April.

Around 40 British Chamber members, comprising CEOs and senior executives from the financial, property and construction industries, were invited to attend the **City of London Lord Mayor Luncheon** on 12 April at [Le Royal Meridien Shanghai](

In 2010, [**Alderman Michael Bear**]( was elected as the 683rd Lord Mayor of the City of London and, as global ambassador for all UK-based financial and professional service businesses, started his overseas visit programme at the end of the same year. The Shanghai luncheon, sponsored by [**The City of London**]( and [**UKTI**](, was The Lord Mayor’s second stop during his visit to China.

With an educational background in civil engineering and more than 30 years’ work experience in the international property and construction industries, The Lord Mayor offered perspectives on urban regeneration and listed five features he thinks a successful global financial centre must possess:

1. A diverse talent pool,
2. A business friendly environment,
3. An impressive infrastructure and state-of-the-art buildings and first-rate technology,
4. A 24/7 mentality
5. A unique cluster of all the professional services.

With the PRC grooming Shanghai to become an international financial centre by 2020, The Lord Mayor’s points held particular relevance.

At the end of his speech, The Lord Mayor stated he feels optimistic about an economic recovery and the overall trajectory of the economy, pointing out that SMEs will be crucial to the future success of both the UK and China economies.

After completion of his keynote speech, The Lord Mayor passed the podium to renowned economist [**Steven Green**](, Head of Research for Greater China at [Standard Chartered Bank]( who shared some thoughts on business opportunities for financial services in China over the next few years and offered commentary on both the appreciation of the Renminbi and the conversely less optimistic forecast for the US Dollar’s recovery.

The luncheon was presided over by Rory Farquhar-Thomson, chairman of the Chamber’s Financial Services focus group.