The Chinese government recently announced a decision to turn Shanghai into an international financial centre by 2020 to rival the likes of New York, London and Hong Kong.
Similarly ambitious goals, set forth a decade ago, have remained largely unfulfilled but, this time round, there is a greater realism attached to the city’s aspirations. Officials acknowledge the huge gap between the capital market in Shanghai and that of Hong Kong. In particular, they have identified the need to recruit competent professionals.
