Lujiazui: Treasury management center of multinationals

Lujiazui, the financial center in Shanghai, forms a perfect backdrop to the Bund area. [Photo by Wang Gang/For China Daily]

The Lujiazui in China (Shanghai) Pilot Free Trade Zone is China's first development area for financial trade and has become the most prosperous financial town in the country featuring a high-density economy, complete infrastructure, rich human resources, and active market transactions.

The economic aggregate of Lujiazui has exceeded 630 billion yuan ($89.68 billion), raising its economic density to more than 20 billion yuan per square kilometer. The region is home to 45,000 enterprises in the fields of finance, trade, shipping, science and technology, and professional services. There are 12 State-level factor markets and financial infrastructure, and over 500,000 employees, among which more than 300,000 work in finance.

The region boasts a high-quality environment, as it has more than 20 cultural and sports venues, such as the Shanghai Oriental Art Center and the Museum of Art Pudong, as well as spacious offices. It is also open. World-famous financial institutions from 13 countries have set up more than 110 foreign-invested asset management companies here, accounting for 90 percent of the total number in China.

Lujiazui is making efforts to build itself into a treasury management center for multinational companies. With more convenient capital flow and efficient function management, it allows companies to conduct comprehensive capital management business and avail themselves of inter-bank foreign exchange markets and gold market transactions.

As a major window for China's opening-up, Lujiazui will further employ international rules and improve its business environment to provide solid support for multinational companies to expand their treasury management functions.