The Isle of Man has signed a tax information exchange agreement with China, its seventeenth such agreement, just a week after it received approval for its companies to list on the Hong Kong Stock Exchange.

The signing ceremony took place in the Isle of Man between Anne Craine, the island’s treasury minister, and Xiao Jie, minister (commissioner) of the state administration of taxation of the People’s Republic of China.

“The visit of Minister Xiao and the signing of the agreement are important steps in building closer relations between China and the Isle of Man,” said Craine.

Jurisdictions which specialise in cross-border finance are increasingly looking at ways to tighten links with Asian high-growth economies. For instance, Guernsey recently sent a delegation to India and China, while the States of Jersey boosted Jersey Finance’s funding to help the industry body develop its relations with emerging markets.