UK official seeks Western hub status for London in B&R

Charles Bowman, the lord mayor of the City of London, is making a nine-day visit to China, promoting the United Kingdom's capital as the "natural Western hub" of the Belt and Road Initiative.

Bowman, who acts as an ambassador for the UK's financial services industry, will meet members of the Chinese government as well as business leaders to discuss what role Britain can play in the China-proposed international development program.

The Lord Mayor arrived in the Chinese mainland on Monday accompanied by a delegation including representatives from major UK banks, insurance companies, and accounting and law firms.

"Following Prime Minister Theresa May's successful trip earlier this year, a key part of my visit will be promoting London's role as the natural Western hub of the Belt and Road Initiative, for which firms in the City have much to offer," Bowman said.

"I will also be delivering the message that London is truly open for business, and that the City's position as an international financial center will very much continue after the UK leaves the European Union."

The delegation will also visit Hong Kong and Shenzhen, in addition to Shanghai and Beijing before departing China on March 28.

Tom Troubridge, chairman of the China Business Group at accountancy firm PwC, said the delegation will meet with representatives of Chinese banks and construction companies.

"We have assembled a very senior delegation representing the UK's key strengths in assurance, insurance and financing," Troubridge said. "These are all the skills the Chinese government tell us are critical to the success of the Belt and Road Initiative, where infrastructure projects alone have been estimated at $25 trillion over the next three decades."

Following government meetings in Beijing, Bowman will speak at a forum focused on the Xiongan New Area－a new economic zone being constructed on the outskirts of Beijing, which the Chinese government aims to develop as a digital financial center.