08 Jul '11, 12pm

Shanghai fast becoming China's financial hub

SHANGHAI: As Asian financial centres are among the most competitive internationally to outpace their global counterparts, Shanghai is further cementing its position as China's financial hub. In the latest Xinhua-Dow Jones International Financial Centers Development Index, it ranked as the sixth most competitive financial centre worldwide, up two spots from a year ago. But in the sub-category of growth and potential development, Shanghai topped the list. Jiao Ran, director of Economic Information Editorial Department of Xinhua News Agency, said: "Its vibrant financial market and continually improving service standards are attracting more and more investors and talent, gathering greater strength for development. "This is also the reason why Shanghai could overtake France and Frankfurt, two cities with long histories in the latest financial crisis." The index evaluates 45 cit...

Full article: http://www.channelnewsasia.com/stories/economicnews/view/...

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