Regulations to build on hub goal
By Wang Yanlin |
April 1, 2011, Friday
|
Print Edition
Print Edition
SHANGHAI will draft regulations which will assist the city to develop into a global trading center, Yang Dinghua, a senior law maker said at a forum yesterday.
The regulations will complement national laws and make it more efficient to conduct cross-border business in the city, said Yang, vice director at the Standing Committee of the Shanghai People's Congress, at the Hongqiao Trade Forum. Experts from Hong Kong, Japan, Singapore, London and New York are at the forum to share their experience on becoming a global trading center.
Shanghai should collaborate with neighboring provinces and cities to establish a more open logistics network to cut transport costs, some experts suggested at the forum.
The city also needs to further innovate the settlement system to cope with fast-changing exchange rates, they added.
Vice Mayor Tang Dengjie said at the forum that Shanghai still lags far behind other global trading centers and it's vital for the city to draft more sophisticated laws.
The regulations will complement national laws and make it more efficient to conduct cross-border business in the city, said Yang, vice director at the Standing Committee of the Shanghai People's Congress, at the Hongqiao Trade Forum. Experts from Hong Kong, Japan, Singapore, London and New York are at the forum to share their experience on becoming a global trading center.
Shanghai should collaborate with neighboring provinces and cities to establish a more open logistics network to cut transport costs, some experts suggested at the forum.
The city also needs to further innovate the settlement system to cope with fast-changing exchange rates, they added.
Vice Mayor Tang Dengjie said at the forum that Shanghai still lags far behind other global trading centers and it's vital for the city to draft more sophisticated laws.
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