Lujiazui, the financial center of Shanghai, forms a perfect backdrop to the Bund area. [Photo by Wang Gang/for China Daily]
The Shanghai Municipal Government held a symposium on Feb 11 with representatives from 15 major foreign-invested financial institutions to solicit their insights on enhancing the business environment and advancing high-level opening-up in the financial sector.
The meeting saw participation from leading institutions such as HSBC, Standard Chartered, Citibank, MUFG Bank, JP Morgan Chase, BNP Paribas, Commerzbank A.G. Shanghai Branch, Morgan Stanley, BlackRock, Fidelity Fund, Citadel Securities, AXA Insurance, AIA, Aegon, and American Express.
Representatives of foreign financial institutions expressed their positive outlook on China’s steady progress in the opening-up of the financial sector and applauded Shanghai’s proactive efforts in deepening financial reform, optimizing the business environment, and improving the management of cross-border financial data flow.
They highlighted that the recently released package of financial support policies has effectively driven high-quality economic development and maintained financial market stability, leading to a significant increase in foreign investors’ confidence in the Chinese market.
Participants also expressed hope for further policy refinements by financial regulators and continuous improvements to the business environment by the Shanghai Municipal Government.
The meeting underscored the importance of openness as Shanghai’s key strength. The city pledged to continue implementing its open strategy and work to create a world-class business environment that is market-oriented, law-based, and internationalized, ensuring foreign financial institutions enjoy even greater opportunities for development.
The government also encouraged foreign financial institutions to participate more deeply in the development of Shanghai’s “five centers” — namely, an international economic center, financial center, trade center, shipping center and scientific and technological innovation center — to contribute to the city’s socio-economic progress.
Source: Shanghai Observer
,https://english.shanghai.gov.cn/en-Latest-WhatsNew/20250213/b6501951ebc948e9955d02ca12841c05.html