Over 1,800 financial institutions affected as Beijing’s epidemic risk increase

Xicheng is located in the core functional area of ​​the capital, with many top financial institutions. There are more than 1800 various financial institutions and 175 headquarters enterprises in the zone.

On June 14th, since Beijing found multiple confirmed cases of new coronary pneumonia, many areas of the capital were affected. Among them, Financial Street in Xicheng District was upgraded to a medium-risk area.

Xicheng is located in the core functional area of ​​the capital, with many top financial institutions. There are more than 1800 various financial institutions and 175 headquarters enterprises in the zone.

The scale of financial institutions’ assets reached 102 trillion yuan, accounting for nearly 40% of the nation’s financial institutions’ assets, regional RMB payment business accounted for 40% of the country, and foreign currency payment business accounted for 60% of the country.

Beijing Financial Street is an important window for China’s financial opening. Prior to this, a new round of comprehensive opening-up pilot projects in Beijing was being implemented steadily.

There are currently 143 foreign-funded financial institutions in Financial Street, and 19 of the world’s top 500 foreign-funded institutions have set up branches in Beijing Financial Street. Four foreign banks, such as Swiss Bank and JPMorgan Chase, set up their corporate headquarters in Beijing on Beijing Financial Street.

In addition, in serving the country’s opening to the outside world, Financial Street has been working hard to create a pioneer in the service of the “Belt and Road” construction.

In recent years, the Asian Investment Bank, Asian Financial Cooperation Association, Silk Road Fund, China-LAC Cooperation Fund, China-Africa Development Fund (CADfund), etc. have successively set up departments on Financial Street.

At the end of May, domestic epidemic prevention and control measures were lifted, and practitioners in the national financial industry began to travel extensively.

But this time, for financial institutions, the business that was finally restarted is likely to be hit a lot.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/14/over-1800-financial-institutions-affected-as-beijing-s-epidemic-risk-increase/.

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