SHANGHAI, March 17 (Xinhua) -- Lujiazui, the core financial zone in Shanghai, has attracted 22 major foreign and domestic projects so far this year amid the outbreak of COVID-19, local authorities said Tuesday.
Zhou Haidong, with the Lujiazui Financial and Trade Zone Management Committee, said the projects involve various fields such as finance, asset management, e-sports and shipping.
As of Tuesday, Lujiazui has attracted eight licensed financial institutions and three international asset management institutions, including a business consulting company registered by British industry leader Legal & General Investment Management.
Another institution Korean Reinsurance Company Shanghai Branch obtained a business license on Jan. 13 and settled in Lujiazui. Hugh S. M. Yoon, CEO of the branch, said their Shanghai office has now resumed work and plans to start underwriting business from April 1.
"In the long run, the opening of the Shanghai branch will definitely improve our understanding and service of the local market," Yoon said.
On Feb. 14, despite the ongoing epidemic, Russell Investments Management (Shanghai) completed private fund management registration in China.
"China is one of the most promising and attractive markets for the global asset management industry, which is why we chose Shanghai. Lujiazui will be our starting point for expanding our business in the future," said Ying Tan, president and general manager of the firm.
On March 1, Shanghai unveiled a number of new measures on facilitating the development of foreign enterprises, including easing market access and expanding opening-up, as part of its efforts to further spur growth and minimize the impact of the coronavirus outbreak.
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