Jean Lemierre: Shanghai can lead to further develop a financial ecosystem that would ensure the sound and sustainable development of the Chinese economy

Jean Lemierre, Chairman of BNP Paribas, envisions Shanghai's 2035 financial landscape.

He said: "Shanghai will have a crucial role to play in the coming 10 years. This is the specific financial ecosystem in Shanghai. International and Chinese financial institutions have been able to develop successful cooperation and partnerships, potential for further cooperation significant in 2 areas:

"First, on cross-border financial services to support: international companies that choose to fund their projects and activities, in China, and in RMB, Chinese companies growing interest to build offshore production capacities and to support their overseas clients, Chinese retail and institutional investors who wish to invest abroad, or international actors who seek to own more RMB investment products. And lastly, with the development and broadening of the scopes of green and sustainable finance.

"Second, with the acceleration of the development of long-term, sound, safe and sustainable saving products and services, multiple international financial institutions, including BNP Paribas, have already established in the city companies and joint ventures in Securities services as well as in Asset and Wealth management.

"In conclusion, I would like to underline again the commitment of BNP Paribas, and the leadership that Shanghai can play in the coming 10 years to further develop a financial ecosystem that would ensure the sound and sustainable development of the Chinese economy and of China cooperation with the world."