Shanghai to build a global asset management center and an international financial center to move towards a higher level

(Economic Watch) Shanghai to build a global asset management center and an international financial center to move towards a higher level

　　China News Agency, Shanghai, September 26th: Shanghai to build a global asset management center and an international financial center to move towards a higher level

　　Author Gao Zhimiao Fan Zhonghua

　　From the first proposal to build a global asset management center in the "Three-Year Action Plan for the Construction of Shanghai International Financial Center" in 2019, to the promulgation of "Several Opinions on Accelerating the Construction of Shanghai Global Asset Management Center" in 2021, to the recent Shanghai Asset Management Association The inaugural meeting and the pilot ceremony for the transfer of private equity and venture capital shares were launched, and Shanghai is making steady progress towards the goal of building a global asset management center.

Innate endowment breeds "the cradle of asset management"

　　As an international financial center, why should Shanghai build a global asset management center?

Li Wen, chairman of Shanghai Asset Management Association and chairman of China Universal Fund Management Co., Ltd., told China News Agency that building a global asset management center is the only way for Shanghai to move towards a higher level of international financial center.

　　Li Wen believes that after more than 30 years of leap-forward development, Shanghai has basically become an international financial center commensurate with China's economic strength and the international status of the RMB, which has also laid a solid foundation for the high-quality development of the asset management industry, and has achieved initial results: That is to say, the overall scale has grown steadily, various institutions have accelerated their agglomeration, product innovation has continued to develop, and two-way opening has made great strides.

　　According to statistics, Shanghai currently has more than 4,600 asset management institutions of various types, including bank wealth management, insurance asset management, trust, public funds, private equity funds, and securities company asset management. nearly one-half of the country.

　　Tao Geng, President of Guotai Junan Securities Asset Management Co., Ltd., also said that Shanghai has unique advantages in building a global asset management center, including five aspects: a complete factor market, a complete range of institutions, leading financial technology, a prosperous regional economy, and an excellent business environment.

Open gene benchmarking "international standard"

　　Yang Bin, President of Shanghai Science and Technology Center Equity Investment Fund Management Co., Ltd., said that with the introduction of the "New Asset Management Regulations" and the implementation of unified supervision, the asset management industry has entered the "fast lane" of standardized development and has become the most active area of ​​financial opening and innovation. .

At present, the problems and challenges faced by all countries in the world are constantly increasing, and it is more urgent than ever to strengthen international cooperation.

As one of the most international cities in China, opening up is one of Shanghai's greatest advantages.

　　In Shanghai, which has a high degree of internationalization, the agglomeration effect of foreign financial institutions is obvious.

It is reported that Shanghai's foreign-funded banks, insurance institutions, and fund management companies account for about half of the total in mainland China, making Shanghai the city with the highest concentration of domestic foreign-funded financial institutions.

Among the 38 wholly foreign-owned private securities investment fund managers in the country, 32 have settled here, and all the top ten asset management institutions in the world have started their business in Shanghai.

　　In Li Wen's view, as the main force of the asset management industry, the public fund industry was established and developed in the process of opening up. Whether it is system construction, product system, investment philosophy, etc., it is fully in line with international standards. one of the industries.

　　For foreign asset management institutions, Shanghai's construction of a global asset management center is also "full of opportunities".

Ji Mei, Director of Robo Asset Management Group China, told reporters, "China's asset management industry is one of the fastest growing markets in the world, and China's entire asset management industry's opening-up policy has brought opportunities to global asset institutions. It can be seen that China's financial market environment and regulatory system are gradually improving, providing strong support and guarantee for the long-term development of overseas asset management institutions in China."

There is a long way to go to create an "asset management highland"

　　How to build a global asset management center?

Yang Bin believes, "At present, the construction of Shanghai International Asset Management Center has just started, and there is still a long way to go. The overall business environment, open atmosphere, international vision, innovation support and other aspects are the focus of the construction of the global asset management center, which needs to be further consolidated. The accumulation of asset management talents It’s also very important, with the people, the atmosphere, and the advanced ideas, it just takes time.”

　　Li Wen bluntly said that although important progress has been made in the construction of Shanghai as an international financial center and a global asset management center in recent years, and certain characteristics and advantages have been formed, compared with the development level of a mature global asset management center, the high-quality economic development has an impact on asset management. Compared with the requirements put forward by the industry, further efforts are still needed in many aspects.

　　In his view, in the future, Shanghai should continue to promote institutional opening, and further leverage the advantages of the free trade pilot zone and the Lingang New Area for financial opening; actively attract asset management talents to gather and strengthen the introduction of international talents; continue to strengthen the construction of financial markets and enhance Shanghai's financial Market global resource allocation capabilities and risk management capabilities; continue to promote product and business innovation, and further strengthen innovation in pension finance, ESG (environmental, social and corporate governance) responsible investment, financial technology, and public REITs.

　　"Shanghai should further strengthen the agglomeration of asset management institutions, improve the diversified institutional system, and continue to improve the service capabilities of professional institutions, encourage leading institutions to become bigger and stronger, and represent Shanghai and China to participate in global competition." Li Wen said.

(Finish)