Shanghai intends to expand greatly the size of its capital markets and open them more widely to foreign investors by 2015 as cornerstones of its strategy to become a global financial powerhouse.
The goals for the next four years range from the concrete, such as more than doubling trading volumes, to the aspirational aim of “significantly increasing the international influence” of Shanghai’s markets.
The government said yesterday these were intermediate steps towards the objective of making Shanghai an “international financial centre that is consistent with China’s economic strength” by 2020.
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