The Shanghai municipal government has flagged the development of its own international asset management platform as part of broader efforts to transform the city into a leading global finance hub.
Shanghai mayor Gong Zheng (龚正) said the city would “devote full efforts to advancing the development of an international financial assets transactions platform.”
Gong made the remarks on 6 April, at a regular meeting of the Shanghai municipal government which gives its approval to the “Several Opinions Concerning Accelerating the Development of the Shanghai Global Asset Management Centre” (关于加快推进上海全球资产管理中心建设的若干意见).
Gong also pointed to the need to “target the highest international standards, and drive regulatory frameworks, data models and risk management to all approach world class standards.”
