Standard Chartered opens private center for wealth management in Shenzhen

Standard Chartered China opened a priority private center in its Shenzhen Bay subbranch on Wednesday to support the high-quality development of China's wealth management sector.

The move followed the establishment of priority private centers, which are dedicated to providing custom-made wealth management solutions for wealthy individuals, in Beijing, Shanghai and Hangzhou, Zhejiang province, by the London-based bank. Standard Chartered says it remains positive about China's long-term economic prospects and continues to invest and expand its business in the Chinese market.

Bill Winters, group chief executive of Standard Chartered, joined British Prime Minister Keir Starmer during his official visit to China from Wednesday to Saturday as part of a UK business delegation.

"China and the UK have highly complementary economic structures, and both countries firmly support free trade and the multilateral trading system. Through open cooperation, we are committed to driving global growth and prosperity," said Winters.

"Long-standing economic and financial dialogue mechanisms have strengthened mutual trust and created a stable and predictable environment for bilateral trade, investment and financial cooperation.

"The Prime Minister's visit provides a valuable opportunity to build on this foundation, expand cooperation and unlock shared growth potential," he added.

Between 2022 and 2024, the Standard Chartered Group committed $300 million to its China-related businesses, including a $40 million investment in the Greater Bay Area Center launched in 2022.

As an active participant in and beneficiary of China's continued opening-up, Standard Chartered leverages its role as a super-connector to support two-way investment and industrial cooperation between China and the UK. The bank supports UK companies investing in China, while also enabling Chinese enterprises to expand into the UK and global markets.

Committed to acting as a super-connector, Standard Chartered said it will continue to support deeper UK–China economic and financial cooperation and promote mutually beneficial, sustainable growth.