Shanghai sets up intl financial advisory council

The Shanghai International Financial Advisory Council was officially established on June 13, gathering people with wisdom, to better serve the national strategy of building the city into an international financial center.

Li Qiang, Party secretary of the CPC Shanghai Committee, said at the establishment ceremony that Shanghai has been in the forefront of the country's financial opening-up initiative and the major pilot area for financial innovation and reforms.

Li hoped the council members will give suggestions for the city's financial development and promote deeper exchange and cooperation between Shanghai and the international community.

Shanghai Mayor Ying Yong awarded certificates to council members, including president of China Society for Finance and Banking Zhou Xiaochuan; chief of the New Development Bank of BRICS countries Kundapur Vaman Kamath; chairman of AXA Denis Duverne; and president of Nomura Holdings, Inc Nagai Koji, at the ceremony.

This year, the advisory council has invited 24 members from financial institutes, organizations and law firms from all over the world.