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London-Lujiazui financial talks focus on cross-border investment

Updated: 2016-06-16

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Global investment was the focus of roundtable discussions between policy heads and financial bosses from the City of London and Shanghai's Lujiazui financial district on June 13.

The event, which aimed to enhance Shanghai's financial cooperation with UK, was part of this year's Lujiazui Forum, a global platform for government officials and business leaders to exchange ideas.

Cao Hongying, deputy director of Shanghai free trade zone (FTZ) administration, reviewed the FTZ's development over the past three years, unveiled its future planning, and introduced its cross-border investment environment.

Mark Boleat, policy chairman for the City of London Corp, shared the recent progress of the City of London and stated the needs of international investors.

Alex Boggis, head of Aberdeen Asset Management Greater China, which has opened a wholly-owned subsidiary in Lujiazui, said that the company expected to get the certificate of Qualified Domestic Limited Partner (QDLP) so as to better serve Chinese and overseas customers. He also recommended that Shanghai, a city opening up more to foreign investors, is a good choice for UK's enterprises that want to expand their presence in China.

Cao Deyun, executive vice president of Insurance Asset Management Association of China, expected that the City of London will open up more to China's insurance funds which mainly invest in London real estate at present but intend to invest more widely in the future.

Li Xunlei, vice president of Haitong Securities Co, suggested promoting Shanghai-London cooperation on the stock and bond market.

Some company leaders expressed their hopes for Lujiazui to conduct more talent training, and Xu Dejie, an official of Lujiazui financial city, responded that the area has already made lots of efforts, for instance, promoting exchanges with London's financial professionals, and launching job fairs at UK universities to attract international talents.