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City to work closely with HK in finance
By Feng Jianmin |
December 14, 2012, Friday
|
Print Edition
Print Edition
SHANGHAI will boost cooperation with Hong Kong as the city continues to liberalize its market further and become more financially competitive.
The city should learn from Hong Kong's experience as it liberalizes the market, improves financial environment and boosts "soft power" as an international financial center, Vice Mayor Tu Guangshao was quoted as saying at Wednesday's meeting with top Hong Kong financial authorities by the Shanghai Financial Services Office yesterday.
Tu also said that as Hong Kong plays an increasingly prominent role in the offshore yuan market, Shanghai will have many opportunities to work with Hong Kong in driving the yuan's internationalization, according to the office.
Hong Kong is riding on the globalization of the yuan as a major offshore center for the currency, while Shanghai is sharpening its focus as an onshore yuan center.
The city should learn from Hong Kong's experience as it liberalizes the market, improves financial environment and boosts "soft power" as an international financial center, Vice Mayor Tu Guangshao was quoted as saying at Wednesday's meeting with top Hong Kong financial authorities by the Shanghai Financial Services Office yesterday.
Tu also said that as Hong Kong plays an increasingly prominent role in the offshore yuan market, Shanghai will have many opportunities to work with Hong Kong in driving the yuan's internationalization, according to the office.
Hong Kong is riding on the globalization of the yuan as a major offshore center for the currency, while Shanghai is sharpening its focus as an onshore yuan center.
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