Shanghai Launches Global Asset Management Partnership Push, Local Sector Host to 106 Foreign-invested Firms

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The Lujiazui financial district of Shanghai has launched a new policy intuitive to transform itself into a global hub for asset management operations.

The Lujiazui Global Asset Management Partnership Plan (陆家嘴全球资产管理伙伴计划) was launched on 28 July with the goal of “further driving high-level reform and opening of the Pudong New District in Shanghai.”

Lujiazui authorities said that the plan will see them invite globally renowned asset management organisations, comprehensive financial services firms and industry bodies to participate, in order to strengthen connections between domestic and offshore asset management operations.

Zhang Yuyang (张宇祥), head of the Lujiazui Administrative Department of the Shanghai Free Trade Adminitsrative Committee, said that 76 “internationally renowned asset management organisations” hailing from 13 countries around the world had established a total of 106 foreign-invested asset management firms of various types in Lujiazui.

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