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City establishes financial association
By Zhang Fengming |
May 1, 2009, Friday
|
Print Edition
Print Edition
SHANGHAI yesterday set up a financial industry association to better leverage its financial resources.
The association, which hasn't been given an official English name, includes companies and industry associations from the banking, insurance and securities sectors.
The association is designed to boost cooperation and mutual exchanges between different companies in the financial sector.
"The association will help generate new energy for Shanghai to rise as a major financial center," said Tu Guangshao, a Shanghai vice mayor. "It will help the city better leverage its financial resources."
The State Council, or China's Cabinet, on Wednesday unveiled guidelines for promoting Shanghai as a global financial and shipping hub, telling the city to "go ahead and test the waters."
The association also has members such as the Shanghai Gold Exchange, Shanghai Stock Exchange, Shanghai Futures Exchange and China UnionPay Co.
The association will offer training and event organization to improve Shanghai's global influence in the financial arena.
The city government plans to hold a conference on May 11 to further promote its plan to be a financial and shipping hub.
Also, the second annual Lujiazui Forum will be held from May 15 to May 16 and feature senior bankers, renowned economists and regulators. This year's theme is "financial development and economic growth amid an era of globalization."
The forum will be co-hosted by the city government, the People's Bank of China and other regulators.
The association, which hasn't been given an official English name, includes companies and industry associations from the banking, insurance and securities sectors.
The association is designed to boost cooperation and mutual exchanges between different companies in the financial sector.
"The association will help generate new energy for Shanghai to rise as a major financial center," said Tu Guangshao, a Shanghai vice mayor. "It will help the city better leverage its financial resources."
The State Council, or China's Cabinet, on Wednesday unveiled guidelines for promoting Shanghai as a global financial and shipping hub, telling the city to "go ahead and test the waters."
The association also has members such as the Shanghai Gold Exchange, Shanghai Stock Exchange, Shanghai Futures Exchange and China UnionPay Co.
The association will offer training and event organization to improve Shanghai's global influence in the financial arena.
The city government plans to hold a conference on May 11 to further promote its plan to be a financial and shipping hub.
Also, the second annual Lujiazui Forum will be held from May 15 to May 16 and feature senior bankers, renowned economists and regulators. This year's theme is "financial development and economic growth amid an era of globalization."
The forum will be co-hosted by the city government, the People's Bank of China and other regulators.
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