The 14th Five-Year Plan (2021–2025) is critical for Shanghai’s ambition to become an international financial center by 2035. As outlined in its strategy, Shanghai is to build itself into a global center for asset management, fintech, green finance and cross-border RMB business, and a place for financial businesses and talents to thrive. None of this will be possible without appropriate legal and regulatory systems and institutional opening-up. What can Shanghai do to improve global resource allocation, foster fintech and green finance growth and develop a robust offshore financial system? How to enhance the city’s capacity and competitiveness and expand the international influence of ‘Shanghai Prices’ and ‘Shanghai Standards’?