1. Good basic conditions

Building an international financial center requires a complete financial system, financial institutions, talents, environment and management. Judging from the current status of domestic cities, Shanghai The most conditional.

To date, Shanghai’s financial system has begun to take shape. Shanghai has established a complete system of financial institutions including commercial banks, securities companies, insurance companies, fund management companies, trust companies, futures companies, financial leasing companies, currency brokerage companies, bill business centers, etc. Among them, financial institutions such as fund management companies and trust companies are in a leading position in the country. According to an official from the Shanghai Municipal Finance Office, as of the end of June last year, the total number of financial institutions in Shanghai reached 850.

More importantly, the total assets of Shanghai's financial institutions account for a large proportion of the country's total financial assets. This is an important indicator reflecting the gathering function of financial institutions in the construction of Shanghai as an international financial center. By the end of the Tenth Five-Year Plan, the total assets of Shanghai's financial institutions reached 3.2 trillion yuan, accounting for about 9% of the country's total. As of the end of 2007, the total assets of financial institutions nationwide were 60.48 trillion yuan, and Shanghai accounted for 6.94 trillion yuan, approximately 11.5% of the country's total financial assets, growing rapidly.

2. Large market radiation

The completeness of the financial market is an important basic indicator for measuring an international financial center. The influence and radiation of Shanghai's financial market are becoming increasingly powerful.

So far, Shanghai has basically formed a national financial market system including stocks, bonds, currency, foreign exchange, commodity futures, OTC derivatives, gold, equity trading markets, etc. It is the domestic financial market. It is also one of the few financial center cities in the world with relatively complete market types.

What is encouraging is that the total transaction volume and scale of Shanghai's financial market have continued to grow significantly. In 2007, the total transaction volume of Shanghai's financial market reached 12.76 billion yuan, a year-on-year increase of 117%, while the growth in 2006 was only 69%. In 2008, although the transaction volume of the securities market shrank year-on-year, the complementary role of financial factor markets was further enhanced. By the end of June last year, the total transaction volume of Shanghai's financial market had reached 76.6 trillion yuan, a year-on-year increase of 41.07%.

In this process, the scale of Shanghai's financial market has also expanded day by day, and it has occupied a certain position in the world. In 2007, the stock trading volume of the Shanghai Stock Exchange was 30.54 trillion yuan, ranking seventh in the world and second in Asia; the bond circulation balance of the China Foreign Exchange Trading Center in Shanghai was 13 trillion yuan, ranking seventh in the world; the Shanghai Futures Exchange Some of its products are also among the top in the world. Among them, natural rubber has a turnover of 8.7 trillion yuan, ranking first in the world, and copper has a turnover of 10.1 trillion yuan, ranking second in the world.

The proportion of total direct financing in the country is the most important indicator of the level of international financial center construction. Taking the stocks, treasury bonds, corporate bonds, listed corporate bonds and corporate short-term financing and securities lending issued by the Shanghai financial market as a statistical basis, in 2005, direct financing in the Shanghai financial market accounted for approximately 17.7% of domestic financing, reaching 20% ??in 2006, and 20% in 2007. The annual rate reached 25.2%. In 2008, even though the securities market underwent a profound adjustment and direct financing dropped significantly, the proportion of direct financing in the first half of the year reached 14.4%. From 2002 to 2007, the total financing amount of domestic enterprises directly financing in Shanghai reached 2 trillion yuan, 95% of which was from enterprises in neighboring provinces and cities, which shows its ability to serve the whole country.

3. High degree of openness

The degree of openness is another sign of an international financial center, and Shanghai is also at the forefront of the country.

As of the end of June 2008, 375 foreign-funded and Sino-foreign joint venture financial institutions of various types have gathered in Shanghai, accounting for 44.1% of the total number of financial institutions in Shanghai. In other words, nearly half of the financial institutions in Shanghai are foreign-funded. . Among them, 17 foreign-funded banks are headquartered in Shanghai, accounting for 2/3 of the country's foreign-funded corporate banks. Five foreign-funded corporate property and casualty insurance companies have their domestic headquarters in Shanghai, accounting for 5/7 of the total foreign-funded corporate property and casualty insurance companies. In addition, more than half of Shanghai's Sino-foreign joint venture insurance companies and joint venture fund management companies are concentrated in Shanghai, which has also attracted the capital management centers of many domestic and foreign banks to settle in the city.

Fang Xinghai, director of the Shanghai Municipal Finance Office, said that Shanghai has always adhered to financial reform and opening up and actively strives for pioneering trials. At present, my country's private securities funds, QFII, QDII and private banking businesses are also mainly concentrated in Shanghai.

In addition, Shanghai’s overall financial ecological environment is also at the forefront of the country.

4. Shanghai-Hong Kong cooperation is a win-win situation

Choosing Shanghai to build an international financial center will not weaken Hong Kong’s status as an international financial center, and can achieve mutual benefit and win-win results.

Shanghai currently has an absolute advantage over the mainland, while Hong Kong has international resource advantages that Shanghai does not have. At present, Hong Kong does not have resources that Shanghai has, such as a large number of state-owned enterprise listings, and resources that Hong Kong has, such as foreign listed companies, trading products, and regulatory systems, Shanghai does not have. As long as these two advantages cooperate, they can be fully shared and achieve a win-win situation.