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No Need to Make Waves as City Sails to Global Hub
Shanghai should improve financial and logistic services as well as attract more maritime professionals if it hopes to achieve its goal of becoming an international shipping center, members of the city's top political advisory body said Tuesday.

• Shanghai's Hub Goal and Policies Lure Top Financial Talent Back
More top financial professionals are willing to return to Shanghai to develop their careers, encouraged by the city's favorable policies to attract talent.

• Shanghai to Recruit Financial Talents from Abroad
Shanghai, the financial center of China, will send a delegation to recruit talents for the city's financial sector which was encouraged by the success last year.

• Going Overseas Again for Financial Talent
Shanghai plans to recruit 116 financial professionals during its second overseas recruitment to help fuel the city's ambitions to be a financial hub by 2020.

• Tie-up on Financial Platform for Data
Three Shanghai-based banks on Saturday teamed up with Xinhua news agency to lay the foundation for a financial information platform as the city strengthens its financial power to meet its goal as a global financial hub by 2020.

• Shanghai Outlines Steps to Develop Global Financial Center Status
Shanghai will step up efforts to lure more talent, beef up development of its legal system and improve its credit database as part of efforts to develop a global financial center, Vice Mayor Tu Guangshao said.

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• No Need to Make Waves as City Sails to Global Hub
Shanghai should improve financial and logistic services as well as attract more maritime professionals if it hopes to achieve its goal of becoming an international shipping center, members of the city's top political advisory body said Tuesday.

• City Targets Moves to Propel Hub Status
Shanghai plans to promote offshore financial business in its free trade zones and create an offshore trading center this year to boost the development of the city into a global shipping hub and financial hub.

• Shanghai Builds New Shipping Hub
Following the success of Lujiazui in its bid to be a premier financial hub, Shanghai's Hongkou district has embarked on an ambitious plan to become a center for the shipping industry.

• SSE Plans Platform for Used Ship Trade
Shanghai Shipping Exchange is poised to launch a platform for second-hand ship trading as early as the third quarter of this year, a company executive said.

• Shanghai to Boost Role as Shipping Hub
According to China Securities Journal, Shanghai is planning tax relief policies to attract talent, funds and resources, to promote its development as an international financial center and shipping hub.

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Background

Shanghai's commitment to develop into the Chinese mainland's financial center is not new.

In the early 1990s, the Shanghai municipal government mapped out a long-term development blueprint, making public its plan to become one of the world's main economic, financial and trade centers by 2010.

Under the leadership of the central government and with the support of Zhejiang province, Shanghai started building a deepwater port in neighboring Yangshan in June 2002.

On March 25 2009, the State Council convened an executive meeting to approve in principle Shanghai's plans to develop modern service and manufacturing sectors and to forge itself into one of the world's financial and shipping centers by 2020.

Hong Kong's status as an international financial and shipping center began to take shape in the 1970s.

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