Three world-leading international financial institutions' Shanghai operations, including AllianceBernstein Fund Management Co Ltd, Amundi Fintech (Shanghai) Company Limited, and KKR Investment Management (Shanghai) Co Ltd, held a collective opening ceremony on Monday.

Applauding the dynamics and improvement in the Chinese asset management industry, executives from the three companies unanimously expressed confidence in their development in the Chinese market. By leveraging their experiences in the global asset management businesses, they will make continued efforts to explore opportunities in the Chinese market and provide various financial products and services, said the executives at the opening ceremony.

AllianceBernstein is the fifth wholly foreign-owned mutual fund company in China. As the second wholly foreign-owned fintech company established in Shanghai, Amundi Fintech (Shanghai) will introduce Amundi Group's ALTO system, a leading asset management technology system, into China. KKR Investment Management (Shanghai) is an arm of the US alternative investment giant KKR.

The opening of the three financial institutions can be considered a fruitful result of Shanghai's high-level and expanded opening-up in the financial sector, reflecting the city's high-quality economic development. It has also proven that foreign institutions' confidence in the Chinese market remains unchanged, said officials from the Shanghai Municipal Financial Regulatory Bureau.

Xie Dong, Shanghai's vice mayor, attended the opening ceremony. She said that Shanghai will give full play to its advantages in terms of industrial clusters, talents, and an internationally first-rate business environment to provide more investment and development opportunities. Better services will be provided to fully support financial institutions of all kinds to set up businesses in Shanghai, said Xie.

Contact the writer at shijing@chinadaily.com.cn