Shanghai, March 01, 2024, The Europe Today: Five esteemed global asset management institutions, including Aspect Capital and Schroders Capital, have formally entered into agreements to establish their presence within the burgeoning Lujiazui Financial City, as announced by local authorities.
Mr. Xiao Jian, the Head of Lujiazui Administration Bureau under the China (Shanghai) Pilot Free Trade Zone, highlighted that Lujiazui Financial City has successfully attracted over 8,000 financial institutions, solidifying its position as a premier financial hub. This latest influx of global asset management giants reinforces Lujiazui’s status as a critical cluster for such institutions within China.
Lujiazui Financial City presently hosts an impressive array of financial entities, with approximately 80 percent of foreign-funded asset management institutions, 40 percent of foreign-funded corporate banks, almost one-third of public fund management companies, and nearly one-quarter of insurance asset management institutions nationwide, according to Mr. Xiao. This consolidation of financial prowess has made Lujiazui an essential destination for international players seeking strategic footholds within China.
Mr. Xiao further noted that more than 80 prestigious financial institutions hailing from 13 different countries have already established over 120 foreign asset management institutions within Lujiazui. The city’s allure stems from its conducive regulatory environment, strategic location, and vibrant financial ecosystem, making it an attractive choice for global players looking to expand their operations in the region.
The agreements with Aspect Capital and Schroders Capital mark a significant milestone in Lujiazui’s journey towards becoming a global financial powerhouse. The continued influx of international financial institutions solidifies Lujiazui’s reputation as a magnet for top-tier players in the asset management arena and underlines China’s commitment to fostering a dynamic and open financial market.
As Lujiazui Financial City continues to evolve, these latest developments underscore its importance as a pivotal center for global financial activities, promising further growth and collaboration on an international scale.
