Shanghai's Lujiazui now home to over 100 foreign asset management institutions

SHANGHAI,March 28,2023 -- More than 100 foreign-funded asset management institutions have now settled inShanghai's Lujiazui Financial City,demonstrating China's further opening-up ofits financial sector,according to the third Lujiazui Global Asset ManagementSummit held in Shanghai on Monday.

Lujiazui Financial City reached strategic cooperation with a group of institutions for overseas development.

In 2022,Lujiazui Financial City introduced 10 foreign asset managementinstitutions or related upstream or downstream enterprises. Financialinstitutions from 13 countries have thus far established 122 foreign assetmanagement institutions in the Shanghai financial zone,nine of which are amongthe world's top 10 such institutions,according to Shanghai Lujiazui FinancialCity Authority.

At the summit,the Lujiazui Administration Bureau of China (Shanghai) PilotFree Trade Zone signed a memorandum of cooperation on opening-up with 10 globalasset management institution.

By 2025,the total number of industry-leading international asset managementinstitutions in Lujiazui is expected to exceed 150,said Xiao Jian,director ofthe Lujiazui Administration Bureau of China (Shanghai) Pilot Free Trade Zone.

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Caption: Lujiazui Financial City reached strategic cooperation with a group of institutions for overseas development.

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Caption: The 3rd Lujiazui Global Asset Management Summit

The 3rd Lujiazui Global Asset Management Summit