FSA closes Office in China
June 30, 2021
The Financial Services Authority, (FSA), is closing down its Representative Office in China.
The closure of the office will take effect on 01st July 2021.
According to a press release from FSA issued on 24th June, the decision to close down the office follows ‘a review of the performance and operation of the office and also forms part of the Authority’s plans to make better use of its resources and to put in place a more cost-effective structure.’
The FSA Representative Office in China was set up in July 2019. The intention was to ‘increase Seychelles’ presence in China and to establish and maintain strong relationships with Chinese clients.’
FSA noted that Mr. William Gao, the Attache who was managing the office, which was based in the Seychelles Embassy in Beijing, China, will be returning to Seychelles.
The Financial Services Authority falls under the aegis of the Ministry of Finance, Economic Planning and Trade.