In order to further boost the development of Hongkou's financial industry and strive to build a wealth management highland at the North Bund, Hongkou District Financial Work Bureau recently signed a strategic cooperation memorandum with the Public Offering Fund Business Department of PICC Asset Management Co., Ltd. Lu Ming, Deputy Chief of the CPC Hongkou District Committee and District Governor, and Zeng Beichuan, Chief of the Party Committee and President of PICC Asset Management Co., Ltd. attended the signing ceremony and witnessed it. Chen Shuai, Deputy Governor of Hongkou District, introduced the basic information of the memorandum of strategic cooperation. An official of Hongkou District Financial Work Bureau and the Public Offering Fund Business Department of PICC Asset Management Co., Ltd. signed the contract on behalf of both parties.
PICC Asset, founded on July 16, 2003, the first insurance asset management company in China approved by the State Council and the original China Insurance Regulatory Commission, is sponsored by the People's Insurance Company (Group) of China Limited. At present, PICC Asset has more than one trillion yuan of assets, and it is one of the important institutional investors in China's capital market, which adheres to the value investment concept and creates absolute returns for customers.
In 2017, PICC Assets obtained the public fund license, and now has more than 30 fund products of all kinds, with a management scale of nearly 10 billion yuan.
The cooperation established by the both parties will make full use of their respective advantages to play a synergistic role in strengthening synergy and linkage, so as to increase efficiency for the regional economy. It will highlight the leading role of fund investment and promote industrial cluster upgrading, give play to the role of financial empowerment and create a good industrial environment, strengthen capital operation, strengthen cooperation in four aspects of capital thickening and income enhancement, and achieve a win-win situation. It will play a greater role in fostering new growth points of the financial industry in Hongkou and striving to build a commanding height of wealth management at the North Bund.
According to Lu Ming’s speech, Hongkou District Financial Work Bureau and the Public Offering Fund Business Department of PICC Asset officially signed a contract, marking a new chapter in the win-win cooperation between the two sides. It is hoped that the two sides will continue to strengthen cooperation, enhance consensus and seek common development, promote further implementation of various cooperation contents, and work together to make greater contributions to the high-quality development of Shanghai in the new era.