On the afternoon of July 4, Yin Li, Secretary of the CPC Beijing Municipal Committee, met with Mark Tucker, Group Chairman of HSBC Holdings plc.

Yin said that Beijing, as China’s center of financial regulation, houses many national financial decision-making and management agencies, financial industry associations, and headquarters of financial institutions. With abundant financial resources and a sound market system, the financial industry has long remained the city's first pillar industry. Today, Beijing is pushing forward the development of the two zones, namely, the Integrated National Demonstration Zone for Opening up the Services Sector and the China (Beijing) Pilot Free Trade Zone. Efforts are being made to reform and open up the financial sector, and develop high-tech and green finance. Anchored in China for a long time, HSBC, as one of the earliest international financial institutions operating in the country, has borne witness to and been a part of the open development of China's financial industry. It is hoped that HSBC will further expand its investment and business presence in Beijing, play an active role in building Beijing into a global wealth management center, and roll out more demonstration projects. HSBC is encouraged to deeply integrate into the open development of Beijing's financial sector, attract more financial institutions and enterprises to invest and do business in the city, and help local companies go global. It is also expected that HSBC will serve as a bridge to enhance the friendship and mutually beneficial cooperation between China and the UK. Beijing will continue to foster a first-class business environment that is market-oriented, law-based, and internationalized to facilitate the development of various financial institutions in the city.

Tucker said that the great momentum and prospects of Beijing's financial industry have further shored up HSBC's confidence in its future development in China. It will continue to increase its investment and business presence in Beijing, support the city's efforts to build a global wealth management center, and help expand the opening up of the local financial sector. By giving full play to its advantages, HSBC will make greater contributions to promoting economic and trade ties between the two countries.

Municipal leaders Jin Wei and Zhao Lei attended the meeting.

(Written by Wu Hongli; Photo by Zhang Lichao; Video by Zhang Shiqi, Li Qi)