News&Information

Apr 27, 2018

Shanghai aims to be international financial hub

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Shanghai aims to be an international financial hub. [Photo/ shio.gov.cn]

Shanghai will promote greater openness in its financial industry and government affairs and further cut business tariffs as part of its broader push for better economic growth, according to a government meeting on April 23.

Ying Yong, mayor of Shanghai, stated in the meeting that Shanghai will continue to further opening-up and push forward the city's construction as an international financial center. He also said that Shanghai should make full use of its Free Trade Zone to boost its overall development.

Meanwhile, it was pointed out at the meeting that to ensure financial security and stability, measures should be taken to guard against financial risks of all sorts.

To ensure a sound business environment, it was suggested that the government should ensure its affairs are open to the public and that it operates in accordance with law.

To ensure a sound international business climate, Shanghai has been pushing its supply-side structural reform to lessen the burden of enterprises. Meanwhile, it has cut tariffs on businesses, streamlined administrative procedures and improved government service efficiency.

Talents development is also an essential component of financial growth. Shanghai will make more effort to hold globally influential skill competitions to develop its talent base.