The world-known investment bank Morgan Stanley recently signed the MOU with the People’s Government of Shanghai Pudong New Area, claiming the newly-added Chinese headquarters settled in Pudong. Both parties will carry out full cooperation in utilizing Pudong’s first-mover advantage in the comprehensive reform in the financial innovation and other financial fields in the future. Managing director and Chinese CEO of the company Sun Wei introduced that the newly-added Chinese headquarters will conduct the businesses of consultation and capital management, and it is scheduled to increase the staff in the Chinese headquarters to 1000 within the future four years.
The data provided by Pudong New Area Finance Bureau indicated that in 2009, Pudong finance institutions accelerated cluster, with a net increase of finance institutions of 59 ones, totaling 603 ones, accounting for roughly 80% of the municipal total. In the first three quarters of 2009, Pudong finance industry realized the added value of RMB55.768b, making up 41.6% of the municipal total finance added value. At the same time, the internationally-known finance institutes including Blackstone Group, Bain Capital and Zurich Financial Service Group successively settled in Pudong New Area.
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