(Yicai) March 27 -- As the world’s second-largest economy, China’s accelerated opening-up of its capital and financial markets to international investors is very exciting, according to the chief executive officer of UK lender Standard Chartered Bank.

“Although the world has undergone significant changes, what we have seen recently is a very strong set of messages from the leadership that foreign companies and investors are welcome in China,” Bill Winters told Yicai at the China Development Forum held in Beijing from March 24 to March 25. This year’s attendance of the forum is a very clear reflection of that, he added.

Standard Chartered’s new wholly-owned securities firm in China opened for business on March 22, Winters said. Overseas companies are now allowed to have full ownership in various sectors, including securities, asset management, insurance, and potentially even banks in the future.

The lender can help international investors invest in China through a variety of channels such as the China Interbank Bond Market, stock connect schemes, the ETF Connect and the upcoming Bond Connect, said Winters. These mechanisms provide access to a diverse range of products that were previously inaccessible to international investors, thereby enhancing market accessibility and liquidity.

Standard Chartered has long been positioning itself on China's opening up, said Winters. The London-based bank has a large interest rate and currency risk management team that provides essential tools to clients, facilitating their cross-border payments and investment flows.

The lender has a strong presence across Asia, South Asia, the Middle East and Africa and can act as a key partner for China in aiding the flow of goods and capital between China and those markets.

As China continues to open up, Standard Chartered is well-placed to collaborate effectively with both relevant government departments and clients, said Winters.

“Investing in China is not a problem at all for Standard Chartered,” said Winters. The firm has made substantial investments in cross-border payments both into and out of China over the years.

Although some foreign firms are scaling back investments or withdrawing due to supply chain disruptions caused by the Covid-19 pandemic or geopolitical influences, Winters said he does not think that this applies to most overseas companies.

“China is an extremely competitive market and some companies succeed and some don't and those that don't eventually leave,” said Winters. Some foreign firms have had fantastic success in China and there remains substantial interest in investing in China, to tap into the very strong technical capabilities, highly educated workforce and the vast consumer base.

Editor: Kim Taylor