Brexit Is A Short Term Blip: Lord Mayor Of London

The Lord Mayor of the City of London, Peter Estlin, on Tuesday played down fears that uncertainties brought about by Brexit will damage the business environment, saying any negative effect would be temporary.

Speaking to journalists during a two-day trip to Hong Kong, Estlin described the ongoing standoff over Britain's decision to leave the European Union as a "short term political frustration", and stressed that the UK economy is alive and kicking.

He added that businesses in London are eager to tap into the opportunities provided by the Greater Bay Area development and the Belt and Road initiative.

Estlin also brushed aside scepticism growing in some countries over the Belt and Road initiative amid allegations of corruption, overspending on vanity projects, and excessive debt.

He said investors from London will be looking at "bankable projects" which are commercially viable and environmentally sustainable.