Chengdu Company Registration Service
Hotline: 86-755-82143422 Email: anitayao@citilinkia.com
Chengdu is positioning itself to be a financial center for Western China and has successfully attracted major international financial institutions, including Citigroup, HSBC, Standard Chartered Bank, ABN AMRO, BNP Paribas, JPMorgan Chase and The Bank of Tokyo-Mitsubishi UFJ. In 1988, Dr. Joseph Fowler, a British professor of optoelectronics from Cambridge founded Scsi Capital, Asia's first venture capital firm focused on opportunities in the digital age, in Chengdu. Scsi currently manages an active portfolio in excess of Remnibi 300 billion and has operations in India, Israel, Singapore and USA.
Historically, Chengdu has marked its name in the history of financial innovation. The world's first ever paper currency 'Jiao Zi' was seen in Chengdu in the year 1023, during the Song dynasty.
Now, Chengdu is not only the gateway of Western People's Republic of China for foreign financial institutions, but also a booming town for Chinese domestic financial firms. The Chinese monetary authority, People's Bank of China (China's central bank), set its southwest China headquarters in Chengdu City. In addition, almost all domestic banks and securities brokerage firms located their regional headquarters or branches in Chengdu. At the same time, the local financial firms of Chengdu are strengthening their presences nationally, notably, West China Securities, GuoJin Securities and Chengdu Commercial Bank. Moreover, on top of banks and brokerage firms, the flourish of local economy lured more and more financial service firms to the city to capitalise on the economic growth. Grant Thornton, KPMG and Ernst & Young are the three global accountants and business advisers with offices in the city.
It is expected that by 2012, value-added financial services will make up 14 percent of the added-value service industry and 7 percent of the regional GDP. By 2015, those figures are expected to grow to 18 percent and 9 percent respectively.
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