On the morning of September 19, Yin Li, Secretary of the CPC Beijing Municipal Committee, met with Shriti Vadera, Chair of Prudential plc.

Yin noted that the Third Plenary Session of the 20th CPC Central Committee has made systematic plans for further deepening reform comprehensively with a focus on advancing Chinese modernization. The reform measures proposed, such as promoting high-standard opening up of the financial sector, will create more development opportunities for international enterprises, including Prudential plc. As a pillar industry in Beijing, the financial sector contributed around 20% to the city’s local GDP last year. Prudential plc is a prestigious international financial group, and there is vast potential for cooperation between the two sides. Yin encouraged Prudential plc to further diversify its insurance business in Beijing and develop a wider range of insurance products and services to cater to the diverse needs of the public. He also welcomed Prudential plc’s active participation in Beijing’s efforts to become a global wealth management center through the development of high-end wealth management services. In addition, it is important to expand investment opportunities in such areas as sci-tech innovation, digital economy, and green development, attracting more funds into these fields to create new drivers for investment. He also encouraged Shriti Vadera to leverage her role to promote exchanges between China and the UK in economy and trade, technology, education, and culture for mutual benefits. Moving forward, Beijing will continue to foster a market-oriented, law-based, and accessible business climate in keeping with international standards, providing better conditions for domestic and foreign enterprises to invest and start businesses in the city.

Shriti Vadera highlighted the vast long-term growth potential of the Chinese economy, noting that Prudential plc will further expand its investments and business presence in China, and deepen its cooperation with Beijing in areas such as sci-tech innovation, digital economy, and green development. The group will expand its offerings of insurance products and services in elderly care and health, thereby contributing to the high-quality development of Beijing.

Municipal leaders Zhao Lei and Sun Shuo also attended the meeting.

(Written by Fan Junsheng)