A delegation from Morgan Stanley Huaxin Securities, led by managing director Wu Xiaodong, visited the Pingtan Comprehensive Pilot Zone (PCPZ) in Fujian province on May 5 for financial cooperation, ptnet.cn reports.

The Shanghai-based company is a joint venture by Huaxin Securities and Morgan Stanley. It is MS’s only business channel in the Chinese mainland.

The company set up a cross-border private equity fund in Fujian province earlier this year, and has laid its eye on Pingtan for its competiveness and preferential business policies, insiders say.

Li Dejin, director of PCPZ’s administrative committee, hailed the company’s investment plan and said Pingtan is on the fast track of development, with increasing investment needs .

Morgan Stanley Huaxin Securities is bullish about Pingtan’s development prospects and hopes to invest in qualified projects and budding companies. It also plans to bring in high-end financial industries to establish a park dedicated to asset management, said an official with the company.

As a global leading investment firm, Morgan Stanley specializes in wealth management, investment banking and sales and trading services. Through financial cooperation with Pingtan, it will attract more of its partners and professionals to offer services to financial institutions, including hedge funds, the official added.