The Foreign Financial Institution Sichuan-Chongqing Tour Sichuan Station was held in Chengdu from May 22 to 24, 2024.
The event was co-hosted by the Office of Financial Commission of CPC Sichuan Provincial Committee, Chengdu Municipal People’s Government in conjunction with the China Banking Association, and the Shanghai Banking Association. During the three-day event, a delegation of more than 60 senior executives from 33 foreign banks and foreign insurance companies of 17 countries and regions attended the investment promotion events, corporate closed-door meetings, and investigations on key enterprises and industrial parks in Chengdu.
According to the introduction, Chengdu has been actively creating a first-class international business environment, continuously optimizing the investment and business ecological system, iteratively updating the policy system for the business environment for six consecutive years, and building six application scenarios, including “Rongyixiang” for policies, “Rongyiban” for affairs, “Rongyijian” for government and enterprises, “Rongyidai” for funds, and other two “Rongyi+” scenarios. Foreign financial institutions are warmly welcome to become Chengdu’s development partners to promote opening-up, win-win cooperation, and mutual progress between the international market and Chengdu, Sichuan, and even western China in a wider range and broader fields and at deeper levels.
According to reports, Chengdu has placed financial work in an important position in the modernization of urban construction in recent years and actively promoted the building of the Western China Financial Centre. The financial industry in Chengdu has shown a good development trend. In 2023, the added value of the financial industry reached 255.6 billion yuan, accounting for 12% of GDP. In terms of major financial indicators such as the balance of loans and deposits, premium income, securities trading volume, and the number of listed companies, Chengdu is leading central and other western regions. Chengdu has actively promoted the construction of pilot zones for rural revitalization reform supported by inclusive financial services, the pilot program of digital RMB, the pilot supervision of financial technology innovation, and the pilot innovation of financial technology in the capital market.
Notably, Chengdu is also continuing to promote the opening-up of its finance to the world, while strengthening its comprehensive financial strength and financial reform and innovation.
As of now, 16 foreign banks and 30 foreign insurance companies have established branches in Chengdu. Additionally, China Europe International Exchange (CEINEX) and New York Stock Exchange have set up service centres in Chengdu. The construction of financial exchange platforms, such as Cross-border Investment & Financing Digital Platform and Chengdu Finance Week, continues to progress.
In the latest edition of the Global Financial Centres Index (GFCI) by the City of London Corporation, Chengdu ranks 43rd globally and 6th nationally as a financial centre.
The China Innovation Finance Institute | Chengdu supported the event as a contributor.
