Over the past few months, Shanghai has screened out two batches of 23 pilot projects for opening to the outside world on the basis of giving consideration to industry categories, open content and countries and regions, and reported them to the State Council and the national financial management departments. At present, 9 projects have landed.

Willis Insurance Brokerage Company and Jardine Matheson Insurance Brokerage Company were approved to expand their business scope, which was the first batch of foreign insurance brokerage companies approved to expand their business scope in China. Previously, it could only serve large enterprises and customers with an annual income of 654.38+0.5 billion yuan. After expanding its business scope, it can serve large enterprises, small and medium-sized enterprises and individual customers and fully realize national treatment.

Moroccan Foreign Trade Bank Shanghai Branch was approved for construction, which is the first Moroccan bank and the second African bank to apply for opening in China. Taiwan Province Guotai Shihua Bank Shanghai Rotor Sub-branch was approved for construction (Guotai Financial Holdings, the parent company of Guotai Shihua Bank, is the largest financial holding company in Taiwan Province Province) and is the first Taiwan-funded corporate bank in Shanghai; Jordan Arab Bank Shanghai Branch was approved for construction; Swiss Union Private Bank and German Pacific Asset Management Company were allowed to participate in the QDLP pilot respectively, which was the first batch of approved pilot institutions after the expansion of foreign exchange quota in Shanghai QDLP pilot, effectively expanding the scope and influence of the pilot.

At the same time, the business scope and depth of foreign banks are also expanding. Standard Chartered Bank and DBS Bank were allowed to underwrite local government bonds in Shanghai, which was the first batch of foreign banks to underwrite government bonds business after the CBRC issued the Notice on Further Relaxing Market Access of Foreign Banks.

Source: People's Daily