(Yicai Global) Feb. 7 -- Representatives from the world's financial asset management giants gathered at Shanghai Oriental Art Center in Lujiazui Financial City yesterday to discuss sector prospects and hold talks in preparation for the Lujiazui Global Asset Management Annual Meeting. It comes at a time when the central government contemplates further opening of the securities, fund and insurance markets.
Representatives from some 56 asset management companies, including BlackRock Inc., Vanguard Group, State Street Corp., Blackstone Group and Carlyle Group, which collectively manage over USD30 trillion of assets, accounting for 40 percent of the total value of managed assets globally, and 16 third-party service providers attended the event.
Since the beginning of this year, the Chinese government has repeatedly called for further opening up the financial sector, better capitalizing on foreign investment, and gradually relaxing entry restrictions in the banking, securities, fund and insurance markets. China also made clear at Davos Forum late last month that it will continue to promote opening-up across the board to create an attractive investment environment.
Under the guidance of Shanghai Municipal Financial Service Office and Pudong New District Government, Lujiazui Financial City Authority hosted the meeting for global asset management companies in a bid to promote exchanges between industry players, boost the development of foreign asset management companies, help Lujiazui Financial City capitalize on its overall advantages, promote exchanges between asset managers and third-party service providers, and build a comprehensive service platform by organizing lectures and round table discussions.
Going forward, the Lujiazui Global Asset Management Annual Meeting will focus on promoting mutual support and exchanges between asset management industry players, providing comprehensive services for asset management companies, and helping them market products abroad and communicate with foreign peers as Lujiazui strives to become a new hub of global asset management firms.