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Yang Xiong Meets Mayor of the City of London
    On September 23, Shanghai Mayor Yang Xiong met with Alan Yarrow, Lord Mayor of the City of London, and his party, and the two mayors signed a Memorandum of Understanding on Cooperation and Exchange between Shanghai and the City of London.
    Mayor Yang Xiong expressed appreciation for the support and help by the City of London over the years to Shanghai International Financial Center being built, saying that since establishing friendly exchange relationship, the two sides have carried out practical and effective cooperation centering on the financial field. At present, under the unified plan of the central authority and with China (Shanghai) Pilot Free Trade Zone as a platform, Shanghai has been exploring institutional innovation and steadily propelling financial reform and opening up. As the internationalization of the renminbi is sped up, London, as an important renminbi offshore market in the world, will see greater development opportunities. He hoped that the two sides, with the MOU for a new round of cooperation as a starting point, strengthen cooperation in personnel exchange, financial & professional service and shipping finance, and achieve common growth. 
    Mayor Alan Yarrow said that he had been to Shanghai in the 1980s and amazing changes have taken place in the city over the last 30 years. There is great potential for cooperation between the City of London and Shanghai, and he looked forward to the two sides learning from each other and sharing each other’s experience and extending their cooperation to new areas on the basis of consolidating existing cooperation.