Full coverage: G20 Hangzhou Summit
CCTV reporter in Chengdu, Liu Yang, spoke to some experts and overseas enterprise representatives at the meeting, and they shared their thoughts on the potential of the host city.
For Yang Yuanyuan, a hotel chain manager in the city of Chengdu, buying an adequate insurance plan is crucial for business. Yang says for 7 years, she has tried both foreign insurance companies and domestic ones, saying that insurance indemnity has benefited her business and customers.
"They've designed their products according to the consumer's needs," Yang said.
The company Yang Yuanyuan mentions was originally a French company.
In 2013, the Aviation Industry Corporation of China (AVIC) and Grouopama signed an agreement to discuss and raise capital in the establishment of a joint venture life insurance corporation. This agreement was seen as one of the most important international co-operations in the insurance field in years.Many featured products, such as Multi-peril insurance, were the first to be imported into the Chinese market.
The vice president of the joint venture, Ruan Jiang, came back to Chengdu a few years ago from France and chose Chengdu as his second hometown. He said, choosing Chengdu as the headquarters of the company was part of the company’s long term strategy.
"The high-speed development of local financial markets, will benefit industry growth, as we know that economic growth and financial industry growth has been relatively slowing down. However, in Sichuan Province, there is great potential," he said.
Mr. Luo Yun, from the Chengdu Financial City, said Chengdu is seeking to become China’s inland open-economic highland and the finance center of southwest China. By adopting interntional features, Chengdu is attracting many institutions in recent years, with nearly 400 financial institutes having set up their headquarters in the Chengdu Financial City.
“Our clients want to come to Chengdu, because they see the volume of the market in Chengdu, government services, human resources and technical support that greatly suit their needs. In addition, with the good service provided by the Chengdu Financial City, the cost of everything is much lower than Beijing, Shanghai, Guangzhou and Shenzhen," Luo said.
Statistics showed that in 2015, there were more than 249,000 newly–registered market entities in Chengdu, with the newly added registered capital exceeding 10 million US dollars, with a year-on- year increase of 103 percent.
"We have seen great opportunities from the G20 Finance Ministers and central bank governors meeting being held in Chengdu. All the potential partners such as the HK Exchanges, the Singapore Exchanges, the Frankfurt Stock Exchange, and South Korea Exchange. We have built International Fund Town, we hope to import Hedge funds and Quantitative funds business to Chengdu soon," said Liang Qizhou, vice chief of Chengdu City Financial Work Office.
Thus far, Chengdu has attracted more than 270 Fortune Global 500 companies to settle in the city. As more investments are flowing in, financial sectors in Chengdu has contributed to the acceleration of the city’s steps in making itself an international metropolis.
