Li Qiang (R), Party secretary of Shanghai, meets with Roger Crandall, CEO of US-based MassMutual Financial Group in Shanghai on Nov 10. [Photo/WeChat account: shanghaifabu]

Shanghai will open wider doors to the outside world, as opening up is the city's biggest strength, said Li Qiang, Party secretary of Shanghai, during a meeting with Roger Crandall, CEO of US-based MassMutual Financial Group on Nov 10.

Li stated that the hosting of the China International Import Expo in Shanghai from Nov 5 to 10 is a significant move for China to open its market to the world. The event will be held annually, and companies from all over the world have been welcomed to attend.

Li also introduced the latest progress of the construction of Shanghai as an international financial center and thought that the businesses and expertise of MassMutual, a world-renowned financial service institution, match Shanghai’s goal of developing into an international financial center.

Shanghai will further expand opening up and encourage innovation in the fields of insurance, assets management and futures, Li said, and he extended his hopes that MassMutual will use its advantages to further develop in Shanghai.

The city will work hard to create a world-class business environment and give stronger support and better services to local enterprises, Li added.

Roger Crandall said that they have strong confidence in the Chinese market and are willing to participate in China's and Shanghai's development.  

The company will make full use of its expertise in insurance and assets management to expand its businesses in Shanghai and contribute to Shanghai's international financial center construction, added Crandall.