Shanghai is 5th best international financial hub

Shanghai was ranked the world’s fifth best international financial center for a second time in a row, according to a survey released yesterday by China Economic Information Service under Xinhua news agency.

The survey was based on indicators including market size, growth, services and overall business environment. London, New York, Hong Kong and Tokyo were the top four global financial centers.

Shanghai aims to further open its financial industry to foreign firms, including abolishing share limit for foreign-funded banks and financial asset management companies, and backing foreign banks to issue more government bonds.

(Wang Yanlin)