Shanghai: Fast developing Shanghai whose ambition is to be the top international shipping and financial hub, remains the world’s sixth most influential financial hub, according to the third Xinhua-Dow Jones International Financial Centers Development Index.
“The city is making significant improvements in services and regulations in recent years,” Jiao Ran, director of the economic information department at Xinhua said. There are strong indications that the gaps between the world’s top financial hubs are narrowing, Jiao continued.
Beijing moved up to 11th and the southern city Shenzhen moved up to 19th.
For more on what Shanghai’s banks are doing to be competitive on the shipping scene check out our local correspondent, Engen Tham’s column on page 32 of our recently published magazine here.