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Shanghai Daily News Digest

City's financial markets enjoy trading boost   2024-10-28

 

 

The total trading volume of Shanghai's financial markets surpassed 2,633 trillion yuan ($369.75 trillion) in the first nine months of the year, up 3.4 percent compared to the same period last year, Shanghai Vice Mayor Xie Dong said.

Xie also told the 2024 Suhewan Conference, which concluded on Sunday, that there are more than 1,770 financial institutes in Shanghai, of which more than a third are foreign-funded.

The conference, held by Jing'an District and the Global Asset Management Forum, gathered executives from global financial institutions and experts from home and abroad to discuss how to promote common development through financial cooperation.

Key participants included former Chinese finance minister Lou Jiwei; John Thornton, co-chair of the board of trustees of the Asia Society, and Shang Fulin, former chairman of the China Securities Regulatory Commission and the China Banking Regulatory Commission.

Known for its robust financial market system and active trading, the city is actively developing its international financial center and global asset management hub. Jing'an District, in particular, has emerged as a global finance hub with over 500 financial entities across various sectors. In the first half of this year, the financial industry contributed 30.282 billion yuan to Jing'an's GDP, topping all other industries.

Source: Shanghai Daily

 

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