Monetary establishments proceed to view Shanghai as a horny funding vacation spot, pledging to take care of help for native initiatives amid rising curiosity in inexperienced finance and decarbonization efforts.
Oliver Baete, chairman of the board of administration and CEO of Allianz SE, mentioned that the worldwide insurance coverage big stays a long-term investor and companion of Shanghai regardless of the present unsure occasions.
“We’re long-term optimists and stay so in China and we’re persevering with the sturdy relationship with China and Shanghai,” he mentioned throughout a digital interview held on Wednesday – forward of the annual assembly of the Worldwide Enterprise Leaders’ Advisory Council (IBLAC) for the Mayor of Shanghai on Friday.
Final yr, Allianz China Life Insurance coverage Co grew to become the primary wholly foreign-owned life insurance coverage firm on the Chinese language mainland via its transformation from a three way partnership.
“Shanghai just isn’t solely a pioneer of the opening-up, but in addition a world-class metropolis for enterprise which attracts many individuals in lots of sectors, particularly in finance, and we really feel town’s notably welcoming to overseas buyers,” he famous.
Baete additionally steered additional opening up of town’s monetary market to raised entice overseas funding, and on the identical time leverage its key place as a provide chain hub, which performs an important function in native manufacturing and commerce.
Allianz Insurance coverage Asset Administration Co Ltd acquired approval final yr as the primary wholly foreign-owned agency of its type, and plans to share its finest practices to foster a greater understanding of sustainable funding and serve the local people.
Baete urged native establishments to verify inexperienced funding initiatives are aligned with worldwide requirements so that they’re comparable throughout completely different nations.