Shanghai's Pudong New Area has become a key hub in China attracting foreign financial institutions.

The Pudong Finance Bureau has promoted the area's Global Institutional Investor Cluster initiative since 2021.

Pudong aims to attract 100 new globally renowned institutional investors from 2023 to 2025.

An action plan for the initiative was issued in December 2023. Since then, Pudong has attracted over 30 significant institutional investors annually.

To date, Pudong has attracted JP Morgan Securities (China), the first fully foreign-owned securities business in China, and BNP Paribas Securities, a wholly foreign-owned securities trading firm.

The Pudong Finance Bureau signed a strategic cooperation memorandum with BNP Paribas Securities and Citadel Securities in December 2024.

Pudong is also home to four joint venture wealth management companies, such as Goldman Sachs ICBC, and five newly established wholly foreign-owned public fund companies, including BlackRock and Neuberger Berman.

In 2024, Pudong established the GIC Alliance, inviting various institutional investors to participate in a series of closed-door industry meetings.

Source: Official WeChat account of the publicity department of the CPC Pudong New Area committee at "pdnews"