Chinese official calls for enhancing Shanghai's role as international financial center

Senior Chinese official He Lifeng on Tuesday called for the comprehensive enhancement of Shanghai's capabilities as an international financial center.

He, a member of the Political Bureau of the Communist Party of China Central Committee and director of the office of the Central Financial Commission, made the remarks while attending a symposium on supporting Shanghai to build itself up as an international financial center.

He emphasized that the city's functions as a gateway to and hub of financial opening-up should be strengthened continuously under the premise of ensuring financial security, and its status as both a global allocation center for RMB assets and a risk management center should be enhanced.

Shanghai Municipality should assume its primary responsibility, He said, adding that financial regulatory authorities and financial institutions -- especially those in Shanghai -- should enhance coordination and cooperation. ■