Global finance industry association vows to support Shanghai

Ying Yong (8th from right), mayor of Shanghai, meets with newly-elected leaders of CCP12 on June 28. [Photo/eastday.com]

Newly-elected leaders of the CCP12, a global regulatory organization for the finance industry, vowed to continue to support the construction of Shanghai as an international financial center during a meeting with Ying Yong, mayor of Shanghai, on June 28.

The leaders highlighted the beauty of Shanghai and its status as an international city, as well as acknowledging the city's economic development and financial achievements over the past few years.

Ying Yong emphasized Shanghai's goals of developing into an international economic, financial, trade, and shipping center by 2020 and noted that the finance sector plays a significant role in helping the city improve its global status and core competitiveness.

The city will provide better services for highly-skilled financial workers, create a more preferential business operating environment for the finance industry, and accelerate financial opening up in order to attract global financial institutions and industry associations to locate there, according to Ying.

Ying also expressed his hopes that CCP12, the first international finance industry association that has its headquarters in Shanghai, will use its financial clout to help Shanghai reach its goals.

CCP12 opened its headquarters in Shanghai Free Trade Zone in 2016 and now has 36 members including London Clearing House and Shanghai Clearing House, all of which are from the world's major economies.