Yin Yong, Mayor of Beijing, held separate meetings with Sergio P. Ermotti, CEO of UBS Group AG, and Renaud Dumora, Chairman of BNP Paribas Cardif.

Yin said that the Chinese economy has strong resilience, tremendous potential and great vitality, and the fundamentals sustaining China's long-term growth remain unchanged. As the potential of domestic demand and growth continues to be unleashed, the Chinese market remains a strong magnet for global companies and financial institutions. As the national financial management center, Beijing hosts the country's financial regulators, major financial infrastructure, and headquarters of prominent financial institutions. With a diverse pool of financial resources, an increasingly robust multi-tiered capital market system, and the gradual opening-up of the financial industry, Beijing has created broad prospects for both domestic and foreign financial institutions. Leveraging their expertise and Beijing's strengths, UBS Group AG and BNP Paribas Cardif, as global leaders in asset management and insurance respectively, are encouraged to further expand their investment and presence in Beijing, which will enable them to tap into the opportunities arising from Beijing's high-quality development and high-standard opening up. Beijing remains committed to improving its business environment by implementing the "service package" and "service steward" systems, thus helping enterprises of diverse backgrounds in achieving greater success.

Highly rating Beijing's favorable business environment, both companies expressed their optimism about China's economy and unwavering commitment to China and Beijing. They will take an active part in the opening-up of Beijing's financial industry and expand mutually beneficial cooperation in fields such as asset management, wealth management, and consumer finance.

(Written by Yang Qi)