The westward expansion of Chinese financial companies has only just begun, according to respondents in a survey.
The majority (83%) of financial professionals in the research said they expected more Chinese financial services companies to set up offices in the European Union. In contrast, 63% said the same about US companies.
“Our research suggests that the EU is set for a significant increase in financial services companies already based here moving their head offices or setting up new subsidiary premises and also more companies from elsewhere in the world wanting to expand into the continent,” said Jeremy Leach, chief executive of asset management firm MPG, which produced the research alongside a public relations company.
The research also anticipated that a number of UK-based companies would set up subsidiaries or move their businesses within the EU after Brexit.
The survey included 41 investment professionals involved in institutional investment, hedge funds and private equity.
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