Multiple foreign financial institutions open in Shanghai, showing great confidence

Foreign financial institutions including AllianceBernstein, Amundi, and KKR on Monday held a joint opening ceremony in Shanghai. 

Specifically, AllianceBernstein set up a sole proprietorship public fund company in Shanghai, the fifth of such kind in China. Amundi established a financial technology company in the city, the second Shanghai-based fintech company set up by foreign investors. KKR, a global leading alternative asset management company, launched an asset management company here. 

The opening of these three financial institutions is a fruitful result of Shanghai's high-level financial opening up and high-quality development, reflecting their firm confidence in China's economy and market. 

Investing in Shanghai means investing in the future. The city will fully leverage its comprehensive advantages to provide more market opportunities, investment opportunities, and development opportunities, supporting various financial institutions to come to Shanghai for business development, said Xie Dong, vice mayor of Shanghai, during the opening ceremony. 

Ajai Kaul, AllianceBernstein's CEO and head of Client Group for Asia Pacific, and Zhong Xiaofeng, vice chairman of Amundi Asia, expressed their confidence in the future development of China's asset management industry. They said that the newly established financial institutions will leverage the rich experience accumulated in global asset management businesses, continue to explore the Chinese market and provide diversified financial products and services. (Edited by Xie Weijia, Hu Pingchao, hupingchao@xinhua.org)