Yin Yong, Mayor of Beijing, recently met with Georges Elhedery, Group Chief Executive of HSBC, and Howard Marks, Co-Founder and Co-Chairman of Oaktree Capital Management, respectively.

Yin stated that the Third Plenary Session of the 20th CPC Central Committee has outlined a series of tasks for deepening reform of the financial system and expanding high-level opening-up, which will provide new opportunities for China to deepen mutually beneficial cooperation and achieve common development with countries worldwide. He said that Beijing, staying committed to its strategic role as the national capital, is implementing the latest city master plan and advancing high-quality development through high-level opening-up. He underscored that, as the national financial management center, the city boasts rich financial resources and stands at the forefront of China’s financial opening-up. He highlighted Beijing’s devotion to further expanding institutional opening-up in the financial sector, facilitating cross-border investment and financing, and strengthening international financial exchanges and cooperation. Yin encouraged HSBC to leverage Beijing’s strengths in opening-up to expand the company’s investments and business operations in the city, while enhancing bilateral cooperation in areas such as green finance and serving the real economy. The Group is encouraged to inform the international community of the merits of Beijing’s business environment, market opportunities, and development prospects, thereby attracting more foreign-funded enterprises and institutions to invest and establish presence in the city. In addition, Yin welcomed Oaktree Capital Management to seize the opportunities offered by Beijing’s financial opening-up, increase its business footprint in the city, and actively participate in Beijing’s multi-layered capital market to explore more investment opportunities in the financial sector. Yin said that, to support and serve all types of enterprises in the city, Beijing will continue to improve its “service package” and “steward service” mechanisms, and foster a market-oriented, law-based, and accessible business climate in keeping with international standards.

Optimistic about the prospects and opportunities of investing in China and Beijing, both companies expressed their commitment to the Chinese market and their desire to establish a strong presence in Beijing to support the city’s high-quality development. Elhedery expressed his willingness to strengthen cooperation in areas such as green technology, and continue serving as a bridge to attract more foreign enterprises to invest and thrive in Beijing, thereby facilitating bilateral economic and trade cooperation. Marks emphasized his readiness to deepen engagement in Beijing’s financial opening-up and expand investment cooperation in various fields, with the goal of enhancing international financial exchanges and cooperation.

Zeng Jin, Secretary General of the People’s Government of Beijing Municipality, attended the meetings.

(Written by Yang Qi)