Mutual funds land in Hongkou

Source: Xinhua | 2018-03-27

Shanghai’s Hongkou District has lured one tenth of China's mutual funds by tapping its regional advantages and offering favorable policies to support the development of financial services, according to the district during the Eighth North Bund Wealth and Culture Forum held yesterday.

As of the end of 2017, Hongkou — located in the city’s northeast — is home to 1,405 financial institutions, which manage over 4 trillion yuan (US$633.8 billion) of assets.

Last year, Hongkou launched the North Bund Financial Hub to facilitate the development of fund companies within the district.

A financial “golden triangle” has formed between the North Bund financial zone, Lujiazui in Pudong New Area, and the Bund.