Hong Kong Belt and Road Fintech Development Center and France Bird & Bird explores strategic collaboration with the aim of fostering economic exchanges and exploring investment opportunities in Fashion, Arts, and Industrial Technology
BEIJING, June 4, 2018 /PRNewswire/ -- In May, Belt and Road Fintech Development Center ("BNR Fintech") has established a new partnership with the international commercial law firm Bird & Bird with an aim to explore mergers and acquisition opportunities in France. This partnership will enable the organizations to jointly arrange meetings and research studies to facilitate information sharing. The two bodies will also provide assistance to one another, as well as explore business and investment opportunities to promote the expansion of the firms.
Mr. Stephane Braconnier Senior Counsel of Bird & Bird and Head of Law Faculty of University Paris Pantheon Assas (left) with Mr. Jerome Ang Chairman of The Belt and Road Fintech Development Centre (right) having a business meeting in Bird & Bird's Paris Headquarters
BNR Fintech Chairman Mr. Jerome Ang said during the event that they are avidly looking at France's main exports, such as Fashion, Art and Industrial Technology. These industries are targeted due to the increasing demands from the upper middle-income group in China. Mr. Ang also added that France is an ideal location due to its political stability and strong government support in trading with Chinese companies.
Early January this year, French President Emmanuel Macron signaled his country's interest in Beijing's massive New Silk Road plans. During his visit to China, Macron said France would work with China on tapping on each other's resources in enriching bilateral trade. China is a sizeable market for French companies, as demonstrated by the EUR6 billion worth of French FDI in China in 2016. Moreover, several French industries record increases in turnover through exports to China, such as luxury products, food and beverage, high-tech goods, and art. French companies recorded nearly EUR74 billion in turnover in China in 2015, and more than 1,600 French firms were established there that year. In France, there are currently no less than 700 subsidiaries of Chinese companies, including those from the Hong Kong region, employing around 45,000 people.
Bird & Bird Senior Counsel Stephane Braconnier whom also Head the Law faculty of University Paris Pantheon Assas was quoted during the event, that Bird & Bird's strength in intellectual property is a perfect fit with the BNR Fintech objectives. Mr. Braconnier added that the Chinese market, being the biggest in the world for many products and services, is attracting the attention of French multinationals. However access remains complicated for foreign companies. The injection of Chinese stakeholder will give France companies an added value in their expansion plan into the Chinese market.
Bird & Bird (www.twobirds.com) is an international law firm with over 1,200 lawyers and legal practitioners in 28 offices worldwide. Well known for its intellectual property work, in recent years the firm has undertaken expansion in many areas of commercial law, across selected industry sectors. These sectors include automotive, aviation & aerospace defense and security, financial services, technology and communications, energy & utilities, retail & consumer, life sciences & healthcare, media, entertainment, and sport.
The Belt and Road Fintech Development Centre (www.bnrfintech.org) was founded in Hong Kong SAR in August 2017 and is made up of industry leaders from countries along the economic corridors under the Belt and Road Initiative. The aim of BNR Fintech is too help bridge various Belt and Road Initiative related projects, especially where there is an opportunity for the application of Fintech concepts.
BNR Fintech with its vast experience and market knowledge is the ideal business partner for all France companies that are looking into penetrating the Chinese market.