Yuefan Business Information Consulting Company- a branch of England's technological and financial company- WorldFirst was established in Lujiazui, according to a news report on Nov 14.

The landscape of Lujiazui. [Photo/pudong.gov.cn]

UK-based fintech firm WorldFirst announces building its first wholly-owned subsidiary in China at the Lujiazui Emerging Finance Industrial Park in Shanghai's Pudong New Area on Nov 8. [Photo/WeChat account: lujiazuijrc]

Through this consulting company, WorldFirst will gain a better understanding of China's markets and customers.

According to the Management Bureau of Lujiazui, Lujiazui is dedicated to creating a financial and technological center based on its adequate financial service and technological resources.

Implementing measures of finance and technologies

WorldFirst is England's third largest foreign currency company as well as one of the fastest developing financial and technological companies in Europe. Till September of 2017, the trade amount of WorldFirst accumulated to 6.5 billion dollars and customer count reached 120,000.

WorldFirst has been making efforts towards developing businesses in China. In the 8th Sino-England Dialogue on Economy and Finance held in London in November of 2016, Shanghai Finance Monitoring Organization responded positively to WorldFirst's initiatives to build an exclusively foreign-owned enterprise in Lujiazui, which later became true with the help of the departments in Pudong.

The launch of this branch holds great significance. It is one of the joint efforts between Pudong and England in building a financial and technological center, while it also sets a good example of economic cooperation between China and England.

In the future, WorldFirst will build more branches of such kind in China and set up two offices in Shanghai and Shenzhen in 2018, thus providing more feasible plans of cross-border payment for China's enterprises.

JeffParker, manager of the Asia-Pacific Area of WorldFirst said that WorldFirst is planning to launch World Account- a cross-border Business to Business finance service, based on global network and operating system.

Creating financial and technological service platform

Now Lujiazui has developed into an area of finance and technology, where Innovative enterprises cluster, including Alipay, Lufax, CIB Fintech, and Internet Everbright.

To better attract financial and technological enterprises, Lujiazui will create an emerging financial industry park, which will boost the development of financial enterprises. At present, there are 25 entities of such enterprises and over 100 visual enterprises.

In the future, Lujiazui will build a service platform of finance and technology, boost its innovation, and push forward its development by effectively employing resources such as manpower, finance, market and innovation.