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Shanghai, London mayors talk economic cooperation
Online Edition
SHANGHAI Mayor Yang Xiong met Alan Yarrow, lord mayor of the City of London, on Wednesday. They signed a momentum of understanding for cooperation between the two cities.
Yang thanked the City of London for supporting Shanghai’s effort to become an international financial center. Both cities have enjoyed fruitful cooperation in the financial sector since they established sister-city relationship in 1996.
He said Shanghai is carrying out institutional reform and financial reform in the China (Shanghai) Pilot Free Trade Zone. As the RMB internationalization is gaining momentum, London can take the opportunity to become the world’s main offshore center for RMB trading.
The Shanghai mayor said he hoped the two sides can further expand people-to-people exchange and increase cooperation in finance, professional services, shipping finance and other areas.
Yarrow said he first visited Shanghai in the 1980s and the city has changed dramatically in the past 30 years.
He said the City of London has huge potentials for cooperation with Shanghai. The two sides can learn from each other and share experiences while exploring new areas for cooperation.
British Consul General in Shanghai John Edwards was present at the meeting and the signing ceremony.
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