Lujiazui Forum highlights Shanghai's rising appeal to global capital

A view of Lujiazui, the financial center in Shanghai. [Photo/VCG]

The 2026 Lujiazui Forum concluded in Shanghai on June 18 with a clear message: institutional opening, stronger participation in global financial governance, and deeper integration between finance and technology are transforming Shanghai from a favored destination into a first-choice hub for global capital.

Wu Qing, chairman of China Securities Regulatory Commission (CSRC), speaks at the Lujiazui Forum in Shanghai. [Photo/VCG]

At the opening ceremony, Wu Qing, chairman of the CSRC, cited a market view that "Shanghai is turning from a popular option for global capital into its first choice."

The sentiment was echoed by Bonnie Y Chan, chief executive officer of Hong Kong Exchanges and Clearing Limited, who said global investors are increasingly looking to Asia and that China's technological innovation is "not an option, but the first choice." She also called for a broader range of products and risk-management tools, including renminbi treasury bond futures in Hong Kong.

Institutional opening-up provided the foundation for many of the forum's discussions. A new offshore finance action plan, jointly issued by six authorities including the People's Bank of China and the National Financial Regulatory Administration, sets development targets for 2027, 2030, and 2035, while outlining a series of pilot programs in Pudong New Area.

The forum also linked capital attraction with global governance.

Liu Jian, chairman of Shenwan Hongyuan Group Co Ltd, said renminbi asset allocation is moving "from an option to a preferred or first choice." Meanwhile, Zhang Wencai, managing director and chief administrative officer of the World Bank Group, said no country or institution can address today's challenges alone, underscoring the importance of international cooperation.

Speakers also highlighted finance's role in advancing technological innovation, arguing that Shanghai's next competitive advantage will lie in its ability to channel capital toward emerging industries. Particular emphasis was placed on the STAR Market's support for artificial intelligence and other hard-tech sectors.