Fri Dec 06 17:12:27 UTC 2024: ## Chongqing Bolsters Financial Ambitions with UK Partnership and Green Finance Focus

**Chongqing, China** – Chongqing is accelerating its development as a major financial center, forging new partnerships and highlighting its strengths in green finance and logistics. The 5th Jiangbeizui New Financial Conference, held November 28th, saw the signing of a Memorandum of Understanding (MOU) between the Institute of Directors (IoD) for the City of London and the Chongqing Jiangbeizui CBD Management Committee. This collaboration aims to boost cooperation in green finance, attract international financial institutions, and cultivate talent within the sector.

John McLean OBE, Chair of the IoD for the City of London, emphasized the importance of focusing on key sectors, particularly green finance, where China possesses a significant global advantage. He stressed the need for effective communication and transparency to achieve international recognition.

The conference also launched the Xianzi Ruyu service platform, designed to attract insurance capital to Chongqing. Former Vice Chairman of the China Insurance Regulatory Commission, Zhou Yanli, lauded the initiative as a significant step in attracting substantial investment.

Further underscoring Chongqing’s strategic position, the Upper Yangtze River Shipping Center Development Index revealed a 25.8% year-on-year growth in 2023, reaching a composite score of 152.44. This growth is attributed to increased shipping capacity and infrastructure development, particularly multimodal transportation hubs like Guoyuan Port, solidifying Chongqing’s role in the Yangtze River Economic Belt.

A newly released “Western Financial Center (Chongqing) Development White Paper” showcased the city’s financial sector performance in the first half of 2024. The sector contributed 9.4% to Chongqing’s GDP, with financial assets totaling 8.7 trillion yuan (approximately USD 19.59 billion). The number of financial institutions reached 1,863, and listed companies raised 5.76 billion yuan through refinancing, the highest in Western China. The conference also highlighted the complementary roles of Chongqing’s Jiangbeizui and Shanghai’s Lujiazui financial centers in driving economic synergy along the Yangtze River.

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