The “Invest in Beijing” Global Financial Services Network Launch Ceremony was held on the morning of October 21. Yin Li, Secretary of the CPC Beijing Municipal Committee, delivered a speech, while Yin Yong, Deputy Secretary Aof the CPC Beijing Municipal Committee and Mayor of Beijing, along with representatives from domestic and international institutions, jointly launched the network.
Yin Li highlighted China’s remarkable achievement in the sustained and fast economic and social development over more than 40 years of reform and opening up. Entering the new era, under the strong leadership of the Party Central Committee with Comrade Xi Jinping at its core, Chinese people of all ethnic groups have worked closely together, raising China’s GDP to 126 trillion yuan and firmly securing its position as the world’s second-largest economy. We have, once and for all, resolved absolute poverty, and achieved comprehensive social progress while maintaining rapid economic growth and long-term social stability. China’s contribution to global economic growth has remained above 30% for many years. Over the past five years, China has led globally in the return on foreign direct investment (FDI).
Yin stated that Beijing, as China’s capital, boasts a long and vibrant history, with a complete modern industrial system, distinct advantages in education, sci-tech development and talents, as well as a strong momentum for innovative development. Beijing is the hub for China’s financial regulators, with the highest totals in financial assets, listed companies, and financial professionals in the country, making it one of the key destinations for international financial investment. In the present and future, the city will endeavor to take the lead in basically realizing socialist modernization and further expand high-level opening-up, striving to foster a favorable environment for investment and business development. We will create more investment opportunities, hastening the transformation of Beijing into an international innovation center and a global pacesetter in digital economy. This includes strengthening emerging industries such as new energy vehicles and artificial intelligence, developing future industries like robotics and commercial space, and promoting green and sustainable development. Continuous measures will be taken to refine investment channels and relax market access. We will establish a multi-tiered financial market system, steadily expand institutional opening up, create more platforms for exchange and cooperation, and increase the efficiency of cross-border investment and financing. The investment environment will be continuously optimized. It is essential to grant foreign-funded enterprises national treatment, protect the rights and interests of foreign investors in accordance with the law, and improve services for foreigners in areas such as entry and exit, healthcare, and payment, thereby fostering a market-oriented, law-based, accessible business environment in keeping with international standards. Yin encouraged all the guests to actively participate in the development of Beijing’s global financial services network through in-depth exchanges and practical cooperation, thereby sharing in Beijing’s development opportunities.
The “Invest in Beijing” Global Financial Services Network Launch Ceremony aims to boost foreign investment in Beijing, connect global investment information and resources, and establish a platform for communication and cooperation to facilitate the expansion of domestic and foreign investors’ operations in the city. Prior to the ceremony, Yin Li and the domestic and international guests visited the main exhibition area of the Swift International Banker’s Operation Seminar 2024 (Sibos 2024). During the visit, they toured booths of HSBC Group, J.P. Morgan, Deutsche Bank, Societe Generale, UBS, Standard Chartered, First Abu Dhabi Bank, and Swift, engaging in in-depth discussions with the heads of these financial institutions to learn about their development and explore cooperation opportunities. Gu Shu, Chairman of Agricultural Bank of China, Ge Haijiao, Chairman of Bank of China, and Bill Winters, Group Chief Executive of Standard Chartered, addressed the event. The “Invest in Beijing” Global Financial Services Network Development Plan was released at the ceremony.
Attendees included Beijing municipal leaders Xia Linmao, Zhao Lei, and Sun Shuo; Zeng Jin, Secretary-General of the Beijing Municipal Government; heads of domestic and international financial institutions; and representatives from relevant municipal departments and districts.
(Written by Qi Mengzhu and Fan Junsheng)
