International asset management institutions: China’s financial opening-up is advancing in depth and in an institutional manner

China News Service, Shanghai, October 16 (Gao Zhimiao) The Global Wealth Management Forum·2026 Shanghai Suhewan Conference with the theme of "Financial Resilience in a Changing World: Openness, Innovation and Development" was held on the 16th. Executives from several international asset management institutions believe that China's financial opening is moving from expanding market access to institutional opening: not only to allow more foreign capital to come in, but also to build a credible, interconnected, diverse and resilient financial ecosystem so that long-term capital can be retained and allocated well.

"China remains one of MetLife's most important growth markets." Kirk C. Sweeney, Asia Pacific director of MetLife Investments, said that MetLife is one of the first foreign insurance companies to enter the Chinese market. Its insurance business has covered 11 provinces and cities. These regions together account for more than 50% of China's GDP (gross domestic product).

On October 16, the Global Wealth Management Forum 2026 Shanghai Suhewan Conference was held. The picture shows Chinese and foreign guests conducting a roundtable discussion on "International Cooperation and High-level Opening of the Financial Industry". (Photo courtesy of the organizer)

In the past, we had to solve the problem of "can we come in?", and in the next stage we need to answer "how to open up at a deeper level." Mark Konyn, chief investment officer of AIA Group, believes that institutional openness is not only about allowing more foreign capital to participate, but also about building a credible, interconnected, diverse and resilient financial ecosystem to enable the effective flow of capital, professionals, risks and opportunities. The ultimate criterion is whether long-term capital allocation can be improved. He stressed that opening up must be gradual and supported by macro-financial stability, effective supervision and cross-border risk management.

For openness to be stable and long-term, “risk infrastructure” is indispensable. Bernhard Kaufmann, Chief Risk Officer of Swiss Re Group, said that opening up creates opportunities, and resilience ensures the stability and long-term development of openness. An international financial center must not only attract global capital, but also connect local risks with global risk-taking capabilities. He believes that the construction of the Shanghai International Reinsurance Center will help connect China’s complex risk needs with international risk undertaking capabilities and professional experience.

Under the framework of institutional openness, the internationalization of the RMB has become the focus of the guests. Noriko Chen, vice chairman of research and management at Capital Group, pointed out that as the global competitiveness of Chinese companies increases, the currency used for holding, financing and hedging becomes more important. Shanghai’s “15th Five-Year Plan” proposes to build a global RMB asset allocation and risk management center, which is a natural place to promote this work.

Looking forward to the future, Kang Lixian said that institutional openness is ultimately about confidence, that is, confidence that rules can be predicted, risks can be controlled, capital can be effectively allocated, and innovation and stability can be compatible with each other. He believes that a first-class international financial center does not just attract the most capital, but can allocate capital in the most efficient way. Shanghai has laid many foundations for success, and the current opportunity lies in further deepening these foundations and strengthening synergy and linkage. (over)