Joint Development with Shanghai International Financial Center

A panoramic sunrise view of the Bund along the Huangpu River in Puxi and the Lujiazui Financial District in Shanghai's Pudong New Area on Aug 20, 2018. [Photo/IC] 

The Lujiazui district's core ability in financial resource allocation has been constantly advanced, and the global asset management ecosystem has taken shape.

About nine asset management institutions ranking globally in the top 10 in size and 14 foreign-funded asset management companies gathered in the Shanghai FTZ in 2018.

A total of 51 famous world-class financial institutions have established 69 asset management agencies. 99 multinational corporations also set up their regional headquarters here in 2018.

A cross-border reassurance settlement function was newly added and 56 financial institutions are using the ledger accounting system and have opened 136,000 accounts in total. This function has covered four types of enterprises in Shanghai, and over 4,000 enterprises have chosen it.

The Shanghai FTZ kept on expanding opening up and deepening financial innovation, and issued 25 suggestions concerning the opening-up of the financial services industry.

Cross-border RMB settlement of the FTZ totaled 2.55 trillion yuan in 2018, accounting for 35.3 percent of that of Shanghai. The revenue and expenditure of the two-way cross-border RMB fund pool amounted to 482.6 billion yuan, showing a year-on-year growth of 170 percent.

Shanghai Insurance Exchange started running an international reassurance platform, the international board for gold recruited 76 international members in total, and trading volume reached 4.9 trillion yuan.

Crude oil future, the first international future trading of China, was opened for transactions last year, and its transaction scale ranked among the top three in the world.

Initiative projects were implemented in 38 opening-up fields.

A total of six industries with sales revenue of 100 billion yuan and 10 industries with sales revenue of 10 billion yuan have taken shape, wherein the import value of watches, medicine, and medical appliances respectively reached 41.1, 28.9, 24.8 percent that of China.

A total of 163 foreign-invested research and development centers and nearly 900 high-tech companies gathered in Shanghai FTZ's Zhangjiang section.

Two groups of opening-up measures, totaling 54, have brought in 2,800 enterprises, wherein initiative projects were implemented in 38 opening-up fields.

The Shanghai FTZ has newly set up 601 foreign-funded projects, attracting contractual foreign capital of $4.23 billion. The capital actually used totaled 2.49 billion yuan, accounting for 20, 19, 34.4 percent that of Shanghai.

The function of the Belt and Road Initiative section on the Shanghai FTZ overseas investment platform was expanded and the Belt and Road Initiative communication and cooperation center and Middle East sub-center were founded. The strategic cooperation with the overseas offshore RMB market was pushed forward, providing investment and financing support for interconnections within the framework of the Belt and Road Initiative.

The enterprises in the Shanghai FTZ invested 2.1 billion yuan in 2018 in countries and regions along the belt and road, making a year-on-year growth of 3 percent. 

With the help of Zhangjiang National Science Center, the Shanghai FTZ jointly founded international incubators with Israel, Russia and Singapore, promoting the handling of hard-nut problems in science and technology and advancing achievement transformation.