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Shanghai's further opening-up attracts more foreign investors
 
Date:2018-08-09  Source:Xinhua

At the forefront of China's opening-up drive, Shanghai is attracting more foreign investors with a spate of new measures in multiple sectors.

On July 10, authorities in Shanghai introduced a total of 100 new measures covering five areas, including the banking and securities sectors, in a bid to further expand the city's opening-up.

In less than a month, 74 of the 100 measures have gone into effect. The further opening-up is not only a choice of Shanghai, but also a showcase of China's determination to deepen reforms to embrace the world.

Since the central bank announced further opening up of the country's financial sector, Shanghai has rolled out 32 related measures to benefit many overseas banks, insurers and asset management firms.

ICBC-AXA Life, partly owned by French insurance giant AXA, has won regulatory approval to set up an asset management firm in Shanghai. Willis Insurance Brokers Co. and JLT Insurance Brokers. Co. have became the first two to benefit from business scope expansion.

A survey of Renminbi qualified foreign institutional investors by Standard Chartered Bank showed that investors are thinking when to make investment on the onshore market, rather than whether or not.

Many countries and regions along the Belt and Road are also issuing bonds on China's inter-bank bond market and the Shanghai Stock Exchange.

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