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Int’l financial institutions bullish on Chinese market

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In early 1990s, Principal Financial Group (PFG), an American global financial investment management and insurance company, set up its representative office in Beijing, together with many other international financial institutions drawn to China in search of business opportunities.

Since then, PFG has maintained a strategic cooperative relationship with China Construction Bank (CCB). In 2005, they jointly established CCB Principal Asset Management Co., Ltd., which has become an important player in China’s asset management industry.

PFG’s footprint in China gives a glimpse into the thriving development of international financial institutions in the country.

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To attract foreign investors, China scrapped foreign ownership caps for securities, fund management, futures and life insurance firms. It also allowed eligible overseas institutional investors to invest directly or through connectivity in the exchange bond market from June 30 this year.

The policies were welcomed by international financial institutions and further enhanced the appeal of China’s financial industry and market.

“It took only about 13 months, between May 2020 and June 2021, for us to obtain approval for business. This was quite fast for a money broking business,” said Ono Tomoyuki, vice president of Ueda Yagi Money Broking (China) Co., Ltd.

Despite the pandemic, the company had formed partnerships with over 1,100 institutions by the end of July this year.

Many other foreign-funded institutions also saw their businesses grow, buoyed by China’s financial opening up.

“Over the past year, we have accelerated businesses in initial public offerings, refinancing, cross-border mergers and acquisitions, and green bonds. We have also become the first batch of members of the Beijing Stock Exchange,” said Geng Xin, CEO of Daiwa Securities (China).

Geng noted that the company is focusing on consumer sector, health care sector, and advanced manufacturing sector, and is committed to building a bridge between China and Japan in business and capital exchanges.

As the world’s second-largest economy, China is one of the most popular destinations for foreign investment, and its appeal has become even stronger over the past decade due to the steady financial opening-up.

In 2021, the capital and assets of foreign banks in China both increased by more than 50 percent compared with 10 years ago, and for foreign insurance companies, the figures surged by 1.3 times and six times, respectively.

Overseas investments in Chinese securities came in at 2.16 trillion U.S. dollars at the end of last year, marking a three-times increase from that of 2012.

Major global benchmarks like MSCI, FTSE Russell and the S&P Dow Jones have included the A-shares and strengthened their weightings. China’s government bonds also made their way into three major global bond market indices.

“As more foreign investors enter China’s onshore capital markets, Fitch Bohua will gain recognition from more market participants,” said Chen Dongming, president of Fitch Bohua, the rating agency’s China unit.

“We will seize the new opportunities created by regulatory reforms and rapidly changing market demands,” Chen added.

POSITIVE EXPECTATIONS

The global economy is on track to grow by 2.9 percent in 2022, down 1.2 percentage points from the January projection, the World Bank Group said in its Global Economic Prospects in June.

As per projections, China’s economic growth momentum is expected to rebound in the second half of 2022.

A number of executives from international financial institutions have expressed confidence in China’s economy despite global inflationary pressure and a sluggish economic recovery.

“As a foreigner working in China, I think China’s economic development is full of resilience, strong momentum and optimistic prospects,” Ono Tomoyuki said.

China will achieve steady and sustained economic development as it boasts large market entities, complete industrial systems, a diligent workforce and strong social governance ability, Ono Tomoyuki added.

Despite the COVID-19 pandemic and increased risks and challenges from the external environment, the international market demand remains overall stable, said Zhang Chi, Fitch Bohua’s rating director.

Noting that in June, China’s exports posted better-than-expected growth, Zhang said it is expected that the country’s imports and exports will maintain steady growth in the second half of the year.

“We are optimistic about the performance of China’s economy in the second half of the year, and more capital will flow into industries and markets which have huge growth potential,” said Geng with Daiwa Securities (China).

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HON. JA’AFARU YAKUBU HONOURED WITH DOUBLE TRADITIONAL TITLES OF CHIROMAN GASSOL AND MARAFAN BAKUNDI BALI

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The Member representing Bali/Gassol Federal Constituency in the House of Representatives, Hon. Ja’afaru Chiroma Yakubu (ADC), has been conferred with two prestigious traditional titles — Chiroman Gassol and Marafan Bakundi Bali — in recognition of his exemplary leadership, commitment to public service, and immense contributions to community development.
The traditional honours were officially bestowed on the federal lawmaker by the revered traditional ruler of Bakundi Chiefdom, His Royal Highness, Alhaji Kabiru Muhammad Gidado Misa, the 10th Lamdo of Bakundi, during a colourful coronation ceremony attended by members of the royal family, community leaders, political associates, supporters, and well-wishers.
The conferment of the dual traditional titles has continued to attract widespread commendation from stakeholders across Taraba State and beyond, with many describing the recognition as a reflection of Hon. Ja’afaru Yakubu’s growing influence, grassroots connection, and unwavering dedication to the wellbeing of his people.
In a congratulatory message issued by his Special Assistant on Media and Publicity, Comrade Bashir Umar Dali, the lawmaker was described as a courageous, humble, and visionary leader whose commitment to humanity and community advancement has remained outstanding.
According to the statement, the titles Chiroman Gassol and Marafan Bakundi Bali are symbolic recognitions of the lawmaker’s selfless service, people-oriented representation, and tireless efforts towards promoting unity, peace, and sustainable development across Bali/Gassol Federal Constituency.
The statement further noted that Hon. Ja’afaru Yakubu has consistently distinguished himself through impactful representation, empowerment initiatives, and developmental interventions aimed at improving the lives of the people.
“Your commitment and selfless contributions to the growth and progress of the people continue to inspire many across Bali/Gassol Federal Constituency and beyond,” the statement read.
Comrade Bashir Umar Dali also prayed for greater wisdom, strength, honour, and divine guidance for the federal lawmaker as he continues to shoulder greater traditional and leadership responsibilities in service to the people.
Observers have described the conferment of the two traditional titles as a major endorsement of Hon. Ja’afaru Yakubu’s leadership credentials and his increasing relevance in the socio-political and traditional landscape of Taraba State.
The titles Chiroman Gassol and Marafan Bakundi Bali are regarded as highly respected honours within the traditional institution, reserved for individuals who have demonstrated exceptional character, loyalty, service, and commitment to the development and unity of their communities.

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EID-EL-KABIR: BELLO BABAYO BELLO COMMENDS TINUBU, SHETTIMA, GOMBE GOVERNOR AS HE FELICITATES WITH MUSLIMS NATIONWIDE

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The Executive Director, Networks, Niger Delta Power Holding Company Limited (NDPHC), Engr. Bello Babayo Bello, FNSE, has extended warm felicitations to Muslim faithful across Nigeria, particularly the people of Gombe State, on the occasion of the 2026 Eid-el-Kabir celebration, urging citizens to continue promoting peace, unity, love, and national development.
In a goodwill message released to journalists on the occasion of the Islamic festival, Engr. Bello described Eid-el-Kabir as a sacred celebration that reflects the virtues of sacrifice, obedience, faith, compassion, and gratitude to Almighty Allah as demonstrated by Prophet Ibrahim (AS).
He called on Muslims to use the spiritual significance of the season to strengthen the bonds of brotherhood, support one another, and continue praying for the peace, stability, and prosperity of Nigeria.
Engr. Bello also commended the leadership of President Bola Ahmed Tinubu, GCFR, for his commitment to national development, economic reforms, infrastructural advancement, and efforts aimed at strengthening unity and progress across the country.
According to him, the administration of President Tinubu has continued to demonstrate determination in laying foundations for long-term growth and national transformation through bold policies and strategic governance initiatives.
The NDPHC Executive Director equally praised Vice President Kashim Shettima, GCON, for his loyalty, dedication, and support toward the actualization of the Renewed Hope Agenda of the Federal Government.
He noted that the Vice President has continued to play a vital role in promoting stability, inclusion, and effective coordination within government.
Engr. Bello further applauded the Governor of Gombe State, Muhammadu Inuwa Yahaya, CON, for what he described as purposeful leadership and remarkable strides in infrastructural development, healthcare, education, youth empowerment, and peaceful coexistence in the state.
He said the governor’s developmental policies and inclusive style of governance have continued to attract admiration and confidence from the people of Gombe State and beyond.
“Eid-el-Kabir remains a season of reflection, gratitude, sacrifice, and devotion to Almighty Allah. It is also a period that reminds us of the importance of unity, compassion, tolerance, and service to humanity. As we celebrate, we must continue to pray for our leaders and for the continued peace, progress, and prosperity of our dear nation,” he stated.
Engr. Bello urged Muslim faithful to extend love and kindness to the less privileged, widows, orphans, and vulnerable members of society during the Sallah festivities, stressing that charity and generosity are central teachings of Islam.
He also commended the people of Gombe State for sustaining the culture of peaceful coexistence, harmony, and mutual respect among diverse communities.
The engineering professional and public administrator expressed optimism that Nigeria would continue to witness greater development, unity, and economic advancement under the leadership of President Tinubu.
He prayed for Allah’s continued guidance, wisdom, protection, and blessings upon the President, Vice President, Governor Inuwa Yahaya, and all leaders across the country.
Engr. Bello finally wished Muslim faithful in Gombe State and across Nigeria a peaceful, joyous, and spiritually fulfilling Eid-el-Kabir celebration.

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Dogara Celebrates Eid El-Adha, Urges Nigerians to Embrace Unity, Sacrifice, and Compassion

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Rt. Hon. Yakubu Dogara, former Speaker of the House of Representatives and Chairman of the Board of National Credit Guarantee Company Limited (NCGC), has extended heartfelt felicitations to Muslims across Nigeria and around the world on the occasion of Eid El-Adha.

In his Eid message, Dogara described the festival as one of the most profound moments in the Islamic faith — a sacred season that embodies the enduring virtues of sacrifice, obedience, faith, and total devotion to God, as demonstrated by Prophet Ibrahim (AS). He noted that beyond its spiritual significance, Eid El-Adha serves as a powerful reminder of the values of compassion, generosity, and love for humanity.

According to him, the celebration offers an opportunity for reflection and renewal, urging Nigerians to recommit themselves to the ideals of unity, peace, and mutual understanding. He observed that the true essence of Eid lies not merely in celebration, but in the willingness to serve others selflessly and uplift the less privileged.

“Eid El-Adha reminds us that greatness is found in sacrifice, service, and compassion for one another. It is a season that calls us to strengthen the bonds of brotherhood, extend kindness to those in need, and renew hope for a better and more united nation,” Dogara stated.

The former Speaker stressed that the lessons of Eid should transcend religious and ethnic boundaries, especially at a time when Nigeria needs collective commitment to peace, justice, and national cohesion. He called on citizens to rise above division and work together in the spirit of patriotism and shared destiny.

“As we celebrate this sacred festival, may the spirit of sacrifice inspire us to build bridges of understanding, promote harmony across our communities, and work collectively for a more peaceful, just, and prosperous Nigeria,” he added.

Dogara further prayed that the blessings of Eid El-Adha would bring joy to families, healing to communities, and progress to the nation. He encouraged the faithful to use the occasion as a time for spiritual renewal, deeper devotion to God, stronger family ties, and renewed commitment to the common good.

“As families gather in prayer and celebration, may this Eid remind us of our shared humanity and our collective responsibility to serve with humility, love, and sincerity. May the Almighty accept our prayers and sacrifices, bless our homes with peace and happiness, and guide our nation toward greater unity and prosperity,” he concluded.

Dogara wished all Muslim faithful a peaceful and joyous Eid El-Adha celebration filled with divine blessings, love, hope, and renewed faith in the future of Nigeria.

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