SHANGHAI Mayor Yang Xiong met Laurence D. Fink, chairman and CEO of BlackRock Inc., last week. Fink was in Shanghai to attend the G20 Finance Ministers and Central Bank Governors Meeting.

Yang said Shanghai is building itself into an international financial center. The city's securities, insurance and futures markets all developed fast in recent years. With support from central government authorities, Shanghai is making bold financial reform and innovation in the free trade zone.

The mayor said that by implementing the 40 Measures of Financial Reform in the free trade zone, Shanghai will further open the financial service sector. After more than 30 years of reform and opening, the Chinese have accumulated a large amount of wealth and demand professional services in wealth management.