On June 16, the “Insurance Capital into Jiangsu” Promotion Conference was held in Nanjing. At the conference, seven projects were signed by the city of Nanjing, with a total investment of 26.143 billion yuan, focusing on technological innovation, green and low carbon transition, and other priority areas—clearly underscoring Nanjing’s strong appeal as a hub for patient capital.
Nanjing’s ability to attract these projects is built on solid financial fundamentals: the city’s insurance fund utilisation balance reached 472.9 billion yuan, accounting for 60% of the provincial total; and it has 383 registered private fund managers with approximately 475 billion yuan in assets under management. More importantly, a comprehensive mechanism for channelling long term capital has taken shape here: the Zijin Mountain International Sci Tech Innovation Fund Block is emerging as a key matchmaking hub between capital and projects, and the “Insurance Capital into Jiangsu” Service Station and the Asset Management Institution Service Base were jointly inaugurated at the conference, offering one stop services ranging from policy consultation to project implementation for asset management institutions.
Foreign financial institutions are also expanding their footprint in Nanjing. BNP Paribas has been a strategic shareholder of Bank of Nanjing since 2005, with long standing and deep rooted co operation in capital markets, trade finance and asset management. Nanyang Commercial Bank opened its Nanjing branch in Jianye District in 2023, becoming the 12th foreign bank in the city. AIA, headquartered in Hong Kong, has had a branch in Nanjing for years, steadily cultivating the local market. In 2024, Jiangsu Financial Leasing and BNP Paribas Leasing established Jiangsu BNP Paribas Agricultural Technology Equipment Financial Leasing Co., Ltd., which received approval to commence operations and became the country’s first Sino foreign joint venture financial leasing company specialised in agricultural and technology sectors. In March this year, Nanjing held an investment promotion seminar in Hong Kong, with participation from internationally renowned institutions including Morgan Stanley, J.P. Morgan and UBS, further broadening the city’s connectivity with global capital.
Currently, Nanjing is actively advancing its “AI+” initiative, laying out future industries such as 6G, gene and cell therapy, and brain computer interfaces, offering a rich array of investment opportunities for long term capital. Through diversified instruments including debt, equity and REITs, insurance capital has become deeply involved in major projects in energy, advanced manufacturing and other sectors, accelerating the virtuous cycle between industry and capital in Nanjing.
