The 9th North Bund Asset Management Summit, co-organized by the Shanghai Hedge Fund Park and supported by the Shanghai Asset Management Association, kicked off on October 17. Ge Ping, Deputy Director of the Shanghai Local Financial Supervision and Administration Bureau, attended the meeting and delivered a speech. Chen Shuai, Deputy District Governor, and Han Kang, Secretary General of the Shanghai Asset Management Association, delivered speeches. Shanghai International Trust, McKinsey, East China University of Political Science and Law, the Shanghai International Economic and Trade Arbitration Commission, China Securities, and other institutions related to the asset management industry, enterprises, and academic elites got together.
Since its opening in Hongkou in 2013, Shanghai Hedge Fund Park has become the first professional and functional hedge fund clustering place in China. With a good industrial environment and policy support, the park has attracted many excellent fund institutions and talents to develop at the North Bund. The China North Bund Asset Management Summit hosted by it has become one of the most representative and well-known professional conferences in the domestic investment field. It is a bridge for international exchange and an important window for showcasing the achievements of financial development in this district.
Over the past decade, the Hedge Fund Park and Hongkou have worked hand in hand, deeply participated in the rapid growth of the North Bund Wealth Management Highland, and witnessed the magnificent transformation of Hongkou's financial industry. The theme of this summit is the regional construction and development of an asset management center, which is an urgent issue to be considered during the period of accelerating the construction of the core carrying area of the Shanghai Global Asset Management Center at the North Bund. It will play an important role in promoting the continuous elevation of wealth management highlands and breakthroughs in financial innovation in Hongkou.
In the keynote speech, the district financial bureau introduced the extraordinary decade of building the North Bund into the core carrying area of Shanghai's global asset management center. Against the backdrop of regional transformation and upgrading, as well as the financial market reform and innovation, Hongkou started from the construction of the "Wealth Management Highland" at the North Bund, strived to be specialized and refined, leveraged its "latecomer" advantages through staggered development and segmented fields, focused on the promising field of wealth management, and attracted financial enterprises to settle in Hongkou through more precise and appropriate services. Over the past decade, Shanghai Hedge Fund Park, Shanghai Financial Technology Park, and the Shanghai Financial Technology Industry Alliance were successively established at the North Bund. The national carbon emission trading market has also opened on the North Bund. During this period, Hongkou closely followed municipal policies and issued the "Implementation Opinions of Hongkou District on Accelerating the Construction of the Core Carrying Area of Shanghai Global Asset Management Center" and the "Detailed Rules" to accelerate the construction of the core carrying area of Shanghai Global Asset Management Center.
Ten years of development have been fruitful. As of the end of 2022, the number of financial enterprises settling in Hongkou has increased from 308 at the end of 2012 to 2,075, with a compound annual growth rate of 21.2%; The tertiary tax revenue of Hongkou's financial industry has increased from 517 million yuan at the end of 2012 to 12.57 billion yuan at the end of 2022, with a compound annual growth rate of 37.59%. The tax revenue of the financial industry accounts for over 20% of the entire district, becoming one of the core pillar industries in the district and demonstrating strong momentum. At present, the North Bund Asset Management Center has multiple national firsts: the only carbon emission trading market in China (the Shanghai Environmental Energy Exchange), the first hedge fund park in China, the first online direct selling bank in China (Youhui Wanjia Bank), the first RMB international investment and loan fund in China (Sailing Capital), and the largest concentration place of quantitative investment enterprises in China.
The District Planning and Natural Resources Bureau briefly introduced the planning of the North Bund to the attending guests. At present, the new round of development and construction at the North Bund has gained momentum. The charm of the riverfront is blooming, the supporting functional facilities are improving, and the transportation advantage is becoming increasingly prominent. The planning and construction standards are being raised and accelerated. Hongkou expects more international and domestic financial professionals and professional institutions to come to the North Bund to invest, share development dividends, and continue the chapter of cooperation, co-depict the grand blueprint of the development of the North Bund.
The summit also invited heads of the China Chief Economist Forum, the Shanghai Environmental Energy Exchange, UBS SDIC, North Bund Group, JIC Bookstore as well as other relevant institutions and enterprises to have roundtable discussions on gathering high-quality resources and creating a good ecology, thus providing suggestions for the growth of the North Bund's asset management industry.