Enhanced Cooperation in Investment Between Beijing and London to Take Beijing's Financial Opening-up to Next Level
Date: 2022-04-03
Source: People's Daily Online
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On March 23, "Global Investment Futures: Exchange of Dialogue on Sustainable Investing for the UK and China Investment Management Sector" was held in Beijing, which aims to promote the exchanges and dialogue between the finance markets of China and the UK in the post-pandemic era and establish a cooperation platform of sustainable investing for Chinese and UK institutions. The meeting was supported and guided by Beijing Local Financial Supervision and Administration and jointly organized by Beijing Asset Management Association and the City of London.

This is Beijing and London's second online exchange on asset management after a seminar held in June 2020. Representatives from over 110 Chinese and UK asset management institutions attended the meeting. Participants discussed the development trend of sustainable investing, shared practices and explorations in the field and put forward measures to deepen cooperation.

In recent years, Beijing has launched a series of cooperation projects with the City of London in such areas as asset management and sustainable investing, achieving fruitful outcomes. With immense cooperation potential in sustainable investing to be unlocked together, the asset management industries of the two countries have gained better understanding of each other and established closer ties through the event, which will help them to tap comparative strengths and pursue win-win results.

Since the launch of the building of the Integrated National Demonstration Zone for Opening up the Services Sector and the China (Beijing) Pilot Free Trade Zone in 2020, Beijing has aligned itself with international economic and trade rules in scientific and technological innovation, opening-up of the service industry, digital economy, green finance and beyond. The city has also launched pilot programs of fintech supervision, use of digital currency across all scenarios, transfer of equity investment and venture capital shares, and single settlement account for both RMB and foreign currencies, and made innovations in asset securitization of cross-border green credit and other practices. In addition, the establishment of Beijing Financial Court, Beijing Stock Exchange, and offices of 84 Chinese and foreign financial institutions in Beijing, together with a host of reform and innovative measures in the field of finance, are expected to take the opening-up of Beijing to the next level.

(Reporter: Li Bo)