Recently, it is learned from the district financial bureau that from January to May, Hongkou introduced 30 financial enterprises, bringing the total number of financial enterprises to 2105. With the official launch of the construction of the 480-meter new landmark on the west of the Huangpu River, the North Bund has emerged as a "golden triangle" in Shanghai, with a rising trend of financial agglomeration, prosperous commercial and trade activities, blooming charm of shoreline, and increasingly complete functional supporting facilities. Together with the Bund and Lujiazui, it forms the "Golden Triangle" of Shanghai.
In recent years, Hongkou District has taken the initiative to integrate into the construction of Shanghai IFC, relying on the North Bund financial cluster belt, and focused on supporting and cultivating the financial industry characterized by wealth management and asset management. In just over a decade, the finance industry in the district has achieved a magnificent transformation. The industry has become an important support for the economic development and industrial function improvement of Hongkou. The district has gathered various financial enterprises and institutions, with an asset management scale of more than 8 trillion yuan, 17 public fund management companies accounting for nearly 1/8 of the country’s total, 27 futures risk management subsidiaries accounting for 1/6 of the country’s total, and 15 private placement companies of more than 10 billion yuan. The position of Hongkou as a strong financial zone is increasingly consolidated and its features are more apparent as a large number of Qualified Foreign Limited Partners (QFLPs), Qualified Domestic Limited Partners (QDLPs) pilot enterprises from internationally renowned investment institutions, and foreign-funded financial enterprises settled in Hongkou, in addition to the national carbon emissions trading market on the North Bund.
This year is the first year to fully implement the spirit of the 20th National Congress of the Communist Party of China. Hongkou is making every effort to speed up the development and construction of the North Bund. Focusing on the projects of "Shanghai's North Bund, the Golden Triangle of the Huangpu River, the Grand Halls, and the New Landmark on the West of the Huangpu River", it is making efforts to promote these important exhibition windows of Chinese path to modernization. To strengthen the promotion of financial service trade, lay a solid foundation, and expand capacities, Hongkou will set up a "Shanghai Asset Management Park" on the North Bund, focusing on wealth and asset management in the direction of "distinctive features, internationalization, digitalization, and greening", increasing efforts to introduce excellent financial institutions, gather fin-tech headquarters, expand the green financial business, and strive to build a core supporting area for Shanghai Global Asset Management Center and a carbon emission trading pricing center with global influence.
The comprehensive development of the North Bund in Hongkou has attracted the attention of all sectors of society, and new and old friends from the financial industry are flocking in. The SDIC UBS Fund, which entered Hongkou North Bund in December 2011, is one of the first joint venture asset management institutions to settle here. Over the past decade, it has witnessed a large number of high-quality Chinese and foreign financial enterprises and asset management institutions gathering here. It also witnessed Hongkou’s active integration into the construction of the Shanghai IFC, as well as its vigorous support to the financial industry of wealth management and asset management.
Wang Yanjie, general manager of SDIC UBS Fund, said that Hongkou District has a high degree of market agglomeration, with finance, shipping, technology, and other industries booming. There is also a national carbon emission trading market that marks green development. We are looking forward to working with Hongkou to meet the current direction, adapt to development reality, enhance mutual communication, and better serve the national "dual carbon" strategy.
In 2020, new friends Caitong Securities Asset Management Company joined the "Friends Circle" of the North Bund, with its main business being public funds and securities firm asset management. As of the end of the first quarter of this year, the total asset management scale of the company exceeded 250 billion yuan, of which the public offering management scale exceeded 100 billion yuan. Since 2019, the company's asset management business revenue has ranked among the top ten in the industry for four consecutive years.
In the eyes of Ma Xiaoli, Chairman of Caitong Securities, the North Bund has unique advantages in terms of its rich cultural heritage, excellent business environment, and favorable platform policies. During the process of settlement on the North Bund, Caitong Securities deeply felt the high-quality and efficient service and enthusiastic and positive attitude of Hongkou. “At present, the financial industry in Hongkou is showing a trend of specialization, internationalization, and digitization. We believe that with a series of service measures from the district Party committee and government as guarantees, and a sound service system within the district as support, the wealth management ecosystem on the North Bund will accelerate its development. We hope to seize the opportunity to better serve the overall development and the real economy, "said Ma Xiaoli.
In the three-year action plan of "Going Home" for key enterprises, our old friend Minghong Investment returned to the North Bund in July last year and settled in the Raffles East Tower on the North Bund. The spacious and comfortable office environment and thoughtful policy support have continuously improved employee satisfaction and dedication, and also provided a continuous source of vitality and motivation for the sustainable development of the enterprise.
As one of the earliest quantitative private equity managers in China to adopt full cycle, multi-variety, and multi-strategy approaches, and successfully apply cutting-edge artificial intelligence technologies such as machine learning and deep learning to the financial market, Minghong is the first quantitative private equity manager in China to manage a scale of over 50 billion yuan, winning several Golden Bull Awards, and has three product lines covering long stocks, relative value, and multi-strategy. In recent years, with the accelerated expansion and opening-up of China's financial market, global hedge funds are accelerating their layout in China, and Minghong Investment is increasing its international layout. Talent-oriented and technology-first, Minghong Investment is striving for its market share in the broader international financial market and building itself into an international quantitative investment institution.
According to the head of Minghong Investment, the North Bund has been developing quickly with supporting services. Minghong will start its business in Hongkou again, be committed to "effectively combining the cutting-edge technology with a deep understanding of the market, and create long-term value for investors.