Select Language:
Shanghai will continue to expand its high-level openness and enhance efforts to establish a first-rate, market-driven, legal, and international business environment to attract global financial institutions and talent, according to the city’s vice mayor.
The city plans to steadily broaden institutional openness by refining rules, regulations, management, and standards, while invigorating market activity through higher-quality reforms and innovation. This was announced at the opening of the 2025 Shanghai Global Asset Management Forum.
It was also emphasized that Shanghai aims to foster a more flexible and vibrant industry ecosystem for all types of financial institutions by strengthening dialogue with financial regulators and industry associations.
Recent years have seen steady progress in transforming Shanghai into a global financial hub and an international asset management center, with notable achievements, the vice mayor highlighted.
Shanghai’s capacity to allocate financial resources has reached unprecedented levels. The number of licensed local financial institutions increased by 7.4% to 1,782 by the end of last year since 2019, including 555 foreign entities.
Market turnover in Shanghai’s financial sector surged by 13%, reaching approximately 2.96 quadrillion yuan (about $415.77 trillion) in the first nine months of the year compared to the previous year.
As of June 30, there were 75 public fund management firms operating in Shanghai, overseeing 5,129 funds valued at around 12.74 trillion yuan (roughly $1.79 trillion), making the city the leading hub nationwide. Additionally, 3,701 private fund managers managed 40,500 funds totaling about 5.10 trillion yuan (roughly $715.5 billion).
Shanghai is also a prominent center for foreign financial institutions. Half of the banks with local headquarters are on the mainland, and foreign joint venture fund managers and insurers account for about half of such entities on the entire country. All top ten global asset managers by size have established operations within the city.
The city is actively pursuing financial innovation. For instance, industry groups have initiated the development of industry-standard guidelines for applying artificial intelligence models in asset management, promoting AI use in equity and securities investments.
Additionally, the organizers of this year’s Shanghai Global Asset Management Forum, co-hosted by a major financial publication and the Bank of China, unveiled the latest version of the Shanghai Guidebook for Overseas Asset Managers, compiled by the Shanghai Asset Management Association.
ChatGPT
Perplexity
Gemini AI
Grok AI
