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Despite the complex and volatile international environment, foreign financial institutions continued to increase their investment in China since the beginning of 2024, representing a vote of confidence in the prospects of the Chinese economy and eyeing more opportunities brought about by the country’s high-level opening-up.

Standard Chartered Securities (China) Ltd (SCSCL) - the first newly established wholly foreign-owned securities company in China - officially opened for business in Beijing recently, according to a press release the company sent to the Global Times on Tuesday.

“China’s capital markets are very promising as they are increasingly market-oriented and law-based. By bringing high-standard professional services, SCSCL will contribute to the development of capital markets and enhance the markets’ role in supporting economic growth,” said John Tan, SCSCL’s chairman.

Thanks to China’ concrete action toward opening-up, many global financial institutions have stepped up their presence in the Chinese market this year. On February 26, the Shanghai operations of three world-leading international financial institutions - AllianceBernstein Fund Management Co Ltd, Amundi Fintech (Shanghai) Company Limited, and KKR Investment Management (Shanghai) Co Ltd - held a collective opening ceremony in Shanghai, according to the local municipal government.

In January, Chinese authorities said that 10 more foreign-funded institutions had been approved as lead underwriters or underwriters of debt financing instruments for non-financial enterprises.

The expansion of a growing number of international financial institutions in China not only highlights the country’s firm commitment to opening up its finance industry to international players, but also underscores great interest among these institutions in China’s massive financial market and the huge potential it represents.