BEIJING, Jan. 21 (Xinhua) -- The CEO of UBS Group AG has made it clear that in the foreseeable future, China will become the company's most critical growth point in the global context, said Eugene Qian, chairman of UBS Securities Co., Ltd. in a recent interview, reported Shanghai Securities News on Friday.
Thanks to China's financial opening-up, UBS Securities was able to enter the Chinese market and become the first foreign-invested fully-licensed securities firm in China.
UBS believes in the continuous opening-up and reform of the Chinese capital market, said Qian, noting that over the 15 years since it came to China, the development and reform of certain areas in the capital market, as well as the speed and scope of expanding opening-up were beyond the company's expectations.
In recent years, multiple business sectors of UBS Securities have been benefited from programs and regulations such as the sci-tech innovation board, Hong Kong Stock Connect, Bond Connect, Shanghai-London Stock Connect, etc. The company will continue to explore ways to better serve real economy and achieve sustainable growth, Qian said.
As one of the two biggest financial service markets in the world, China should not be neglected by anyone seeking growth, according to Qian, adding that most foreign-invested institutions have reached consensus on the potential of the Chinese market. He also introduced that the number of employees with UBS in China has increased from about 500 to more than 1,300, and is expected to grow even larger in the future.
While growing to be more open and inclusive, the Chinese capital market is also expected to leaning more towards professional institutions. "We look forward to maintaining the confidence and determination in opening-up throughout this development journey," Qian noted.
(Edited by Yu Huichen with Xinhua Silk Road, yhc0267@163.com)
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