Office holds conference on 13th five-year plan for Shanghai international financial center construction

On the afternoon of March 23, Shanghai Municipal Financial Service Office held a conference on the 13th five-year plan for Shanghai international financial center construction. Director Zheng Yang, Secretary-General Yao Jiayong, and officials of the Shanghai financial management attended the meeting.

Shanghai Municipal Financial Service Office formulated the Research on the Basic Idea for Construction of Shanghai International Financial Center during the 13th Five-Year Period (A draft for public review) in conjunction with Shanghai financial management authorities, financial institutions and universities. The meeting was aiming to solicit opinions to further improve the draft.

Yao introduced the drafting process and the main content before meeting participants made comments on the draft. It was generally believed that the draft had a reasonable structure, clear target and comprehensive content and it was consistent with the national deployment of financial reform and opening up. Meanwhile, participants also actively offered advices on how to boost the influence of Shanghai financial market, accelerate financial opening up and innovation in Shanghai pilot free trade zone, enhance financial infrastructure construction, develop financial consumption, speed up connection with international financial rules and strengthen financial risk prevention.

Zheng appreciated the suggestions in the concluding remarks and said that wise ideas would be adopted to improve the draft. He pointed out that this year would be the end of the 12th five-year plan and it was time to plan for the construction of Shanghai international financial center during the 13th five-year period.

“Shanghai is aiming to become an international financial center that is compatible with China’s economic strength and yuan’ international standing by 2020. It should be internationally recognized,” Zheng said, “It requires us to seize opportunities, give full play to our strengths and follow the trend.”

Zheng said he hoped all the participating organizations to attach great importance to the formulation of the draft plan of the financial center construction.