Zhou Xiaoquan, Executive Deputy Director of the Shanghai Municipal Financial Office: The top ten asset management institutions in the world have all conducted business in Shanghai.

Zhou Xiaoquan, Executive Deputy Director of the Shanghai Municipal Committee's Financial Office, stated that Shanghai has become one of the most important gathering places for financial institutions in China. Half of the foreign-owned legal person banks in mainland China are headquartered in Shanghai, while joint venture fund management companies and foreign insurance companies each account for about half of the total number in mainland China. All of the top ten global asset management institutions are operating in Shanghai, and the number of private equity securities investment fund managers established by foreign institutions in Shanghai leads the country. The asset management scale accounts for nearly 30% of the national total.