CCTV News: Recently, many foreign financial institutions are accelerating the speed of business development in China, continuing to increase their investment in the Chinese market, and optimistic about the Chinese economy.

Recently, the Shanghai Operation Center of the reinsurance company under Ansheng Group was approved to open in China. In the past few days, the company is preparing for the first roadshow of its Chinese business that will begin next month. This is also the first global insurance group roadshow conducted by the Shanghai Reinsurance Registration and Trading Center located in Lingang. Two senior executives of AXA Group made a special trip to Shanghai from Paris, France to participate in the final sprint preparation. George Stansfield, deputy CEO of AXA Group, said that the global team has arrived in Lingang for the first time to try to conduct reinsurance through the platform. One of the major advantages of Lingang is its digitalization, which other platforms do not have. AXA has every reason to believe that in five years, this place will become an important reinsurance platform.

Since entering China in 1999, AXA Group's business in China has gradually expanded from property insurance and life insurance, and has recently begun to enter the reinsurance business field, and is exploring product cooperation with Chinese insurance companies. George introduced that China's rapid development in many fields made him feel that he should speed up the expansion of his business in China. George Stansfield also said that compared with 25 years ago, China is the second largest insurance market in the world today, and technological innovation has always existed. China is very advanced in many aspects, such as electric vehicles, drones, green technology, etc., which brings many potential opportunities.

Just at the end of March, UBS announced that the China Securities Regulatory Commission had approved the filing of its wholly-owned holding of UBS Securities. In the future, UBS Securities is expected to become China's fifth wholly-owned securities company. In addition, the establishment applications for Castle Securities, Ruisui Securities and Citi Securities are also being advanced, and the layout of foreign financial institutions in the Chinese market is further deepening.

Newly launched products Actively participate in the Chinese capital market

Not only are there more and more foreign financial institutions coming to China to conduct business, but since this year, the enthusiasm of foreign financial institutions to participate in the Chinese capital market has also increased significantly.

On April 7, a new index fund of Morgan Asset Management was officially issued. The product mainly tracks listed companies with high free cash flow rates in the Shanghai and Shenzhen 300 Index. This is the third time that Morgan Asset Management has participated in the first batch of fund issuance of the A-share new index. In addition, Kuanli Capital, the world's top private equity fund, completed the fundraising of three funds in the first quarter of this year. It took Kuanli Capital only about a year from the establishment of a company, the registration of managers to the launch of products to the market.

Since this year, Allianz Fund, Manulife Fund, Schroder Fund and others have targeted high-quality and highly prospective assets in the Chinese financial market and launched a number of new fund products.

Data shows that at present, 9 wholly foreign-owned fund management companies have been approved to conduct business in China. Among them, six newly established companies after the policy of abolishing the foreign equity ratio restrictions on fund management companies in 2020 was introduced. As of the end of the first quarter, these six newly established wholly foreign-owned fund companies have been approved for a total of 41 public fund products, with a total product scale of over 46.3 billion yuan.

Many foreign-funded institutions have released research reports and are optimistic about the prospects of the Chinese market

Recently, foreign-funded financial institutions have also released a series of views and research reports on the Chinese market, and have expressed their optimism about the prospects of the Chinese market.

The latest "Inquiry on Investment Intentions in Emerging Markets" released by HSBC shows that China's new round of measures to promote economic growth has boosted investors' overall confidence in emerging markets. Among them, nearly half of the respondents believed that the strong performance of the Chinese market was the biggest positive factor for the prospects of emerging markets, which was significantly higher than 29% in the survey in December last year. Goldman Sachs' research report believes that MSCI China Index and the Shanghai and Shenzhen 300 Index still have some upside potential in the next 12 months. Morgan Stanley's research report recommends investors gradually increase the proportion of China's A-shares in their global investment portfolio.