Tu Guangshao shared his understanding of “restarting” Shanghai’s journey toward an international financial center, and discussed how this can enable China to play a better role in the allocation of global financial resources and contribute to world economic growth. To this end, he suggested deepening financial reform, expanding opening-up, and giving Fintech a better play, which was complemented by Mark Wang who stressed the importance of creating sound commercial environments.

Jin Penghui then looked back on the progress Shanghai had made so far, but went further to point out that several weaknesses remained to be addressed, including the underdeveloped insurance and capital market, inadequate product varieties, and the lack of participation by foreign players, among others.

Wang Xin underlined the unique competitive edges of the city and added further advice, with a special mention of green finance and its interaction with Renminbi internationalization, which echoed Lord Mayor’s viewpoints.