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Yang Xiong Meets Mayor of the City of London, Britain

    On September 12, Yang Xiong, mayor of Shanghai, met with Alderman Jeffrey Mountevans, mayor of the City of London, and his party.

    Yang Xiong said it has been 20 years now since Shanghai and the City of London established friendly exchange relationship, and the two sides have successfully carried out cooperation and exchange in various areas, particularly in the financial sector, which has played a positive role in Shanghai’s building of an international financial center. In recent years, Shanghai has quicken the pace of turning itself into an international economic, financial, trade and shipping center and has made steady headway, but it is also faced with new challenges. At present, the world economy is faced with a complicated situation, from which new circumstances and problems have kept arising. How would the financial institutions innovate in their business models and support the development of new economic sectors? How to effectively exercise supervision while promoting the development of online finance? These are the questions needing to be addressed in the process of Shanghai’s building of an international financial center. Also, as Shanghai is building a globally influential international science & technology innovation center, how would finance better serve those innovative science & technology firms? That is where we will have to make a breakthrough. Next, Shanghai will boost reform efforts in the building of China (Shanghai) Pilot Free Trade Zone, the international financial center and the international science & technology innovation center. Shanghai would like to deepen cooperation and exchange with the City of London and together meet the new circumstances and challenges in development.

    Alderman Jeffrey Mountevans said Shanghai has made great and admirable achievements in such a short period of time, and he was delighted to see new progress made in the cooperation between the City of London and Shanghai. Face with an ever changing world, we need all the more cooperation of the international community. The City of London would like to enhance sharing of experience with Shanghai, continue exchange and dialogue, meet challenges together and achieve economic growth by providing better financial service.