Lloyd's chairman vows support for development of Shanghai's financial industry

Shanghai Mayor Ying Yong met Bruce Carnegie-Brown, chairman of Lloyd’s of London, and his delegation on Thursday.

Ying said Shanghai is striving to build itself into an international finance center that is compatible with China’s economy and RMB’s international status according to China’s positioning of Shanghai and the city’s master plan.

Shanghai is one of the international cities that has the most complete major financial factors, and it has attracted most of the major domestic and foreign finance institutes.

With a prerequisite to prevention of financial risks, Shanghai has introduced 100 measures to further deepen the financial reforms and innovations, including expansion of the city’s finance industry.

Lloyd’s of London is an insurance and reinsurance market that has a long history, and Shanghai welcomes Lloyd’s to exert its advantages to participate in Shanghai’s efforts in building itself into an international finance center and its other economic and social development activities.

The city is willing to listen to Lloyd’s and other financial institutions’ suggestion and advice to build a top-notch business environment for them, Ying added.

Brown said Lloyd’s has achieved stable development with Shanghai’s tremendous changes. The insurance industry in China has great development potentials. Lloyd’s will dedicate to providing the companies with special risk insurances and reinsurance, and it will keep focusing on various kinds of risks that big cities face.

Lloyd’s will keep increasing its investment in Shanghai and support the city’s construction and development, Brown added.