Editor's note: Banking and government officials and company executives say they are full of confidence in Qingdao's rapid growth in the financial sector, China Daily reports.

"After two years of operation, the Qingdao Wealth Management Financial Comprehensive Reform Pilot Zone has displayed great market concentration effects, far exceeding our expectations when making the original development plan."

Pan Gongsheng, vice-governor of the People's Bank of China

"There is no other city in China that can compete with Qingdao in developing the wealth management sector and its city planners have great vision for making it as a key differentiator for future growth. I am very excited to see its fast progress. A number of asset management education programs are underway and all the functions of the sector are in place."

Ma Weihua, former president of China Merchants Bank

"The rising demand for wealth management is a reflection of success and economic stability. The city government will accelerate financial reforms and strengthen financial risk prevention capabilities to optimize financial resources and leverage wealth management to grow the manufacturing and service sectors."

Liu Mingjun, vice-mayor of Qingdao

"Qingdao places great emphasis in reforming the financial sector. ... I was very impressed by the leadership's support for the Qingdao branch of the People's Bank of China."

Xin Shuren, director of the People's Bank of China's Qingdao branch

"Qingdao is a thriving city and its financial market is appealing. We believe its business environment will enable us to gain tremendous success in this city."

Gao Feng, president and chief country officer of Deutsche Bank China

"More finance companies are locating their homes in Jinjialing, the city's cluster of wealth management firms. To date, a powerful lineup of banking, securities, options, insurance, trust and mutual fund companies has taken shape."

Wang Rongtao, general manager of the Qingdao branch of Shandong Financial Asset Management Co