by AN Zhen

Foreign financial institutions are expanding steadily in China, with total assets surpassing 7 trillion yuan (US$965 billion), according to LI Yunze, head of the National Financial Regulatory Administration.

Speaking at the 2025 Lujiazui Forum on Tuesday, LI said foreign insurers now account for 9% of China's insurance premiums, up from 4% in 2013, while foreign banks handle around one fifth of domestic derivatives trading. China hosts 42 of the world's 50 largest banks and nearly half of the top 40 insurers, reflecting its appeal as a long-term growth market.

He added that Chinese financial institutions are also expanding globally, operating in over 70 countries and regions, thereby facilitating two-way trade and investment. "Finance thrives on openness and advances through cooperation, contributing to global economic stability," Li said.

China is encouraging foreign participation in green finance, tech finance, wealth management, and elder care—sectors buoyed by structural demand. New asset management ventures by AIA and NN Group were approved in Shanghai this week, ahead of a forthcoming joint action plan to boost the city's global financial hub ambitions.

Li reaffirmed that China's commitment to high-level financial opening will remain unchanged despite external uncertainties.