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Yang Met with Lord Mayor of the City of London

    On October 13, Mayor Yang Xiong of Shanghai met with Fiona Woolf, Lord Mayor of the City of London.

    Yang remarked that since the two established the relationship of friendly exchanges in 1996, Shanghai and the City have enjoyed practical and productive cooperation in the financial sector. Shanghai is currently engaged in the building of an international financial center and is keen to draw on the City’s successful experience in creating an open and enabling environment for the financial sector. China (Shanghai) Pilot Free Trade Zone (FTZ), an important step in China’s further reform and opening up, will continue to develop, with opening and innovation of the financial industry as a key area of exploration. Shanghai stands ready to strengthen ties with the City for cooperation in more areas, according to Yang.

    Woolf briefed Yang on the City and remarked that financial services are key economic drivers for both London and Shanghai. The City has worked with Shanghai over the recent years in many areas including the maritime services and it looks forward to new cooperation opportunities created by the Shanghai FTZ initiative.