China has long had dreams of turning Shanghai into the country’s premier financial centre. Photo: Xinhua
China has long had dreams of turning Shanghai into the country’s premier financial centre. Photo: Xinhua

Shanghai’s quest to be global financial centre gains impetus from Hong Kong troubles but big obstacles remain

  • Hong Kong’s role as an offshore money centre for China may decline if Beijing further tightens its grip on the city
  • China has long wanted Shanghai to become the country’s premier finance hub, but capital controls and its legal system remain obstacles

China has long had dreams of turning Shanghai into the country’s premier financial centre. Photo: Xinhua
China has long had dreams of turning Shanghai into the country’s premier financial centre. Photo: Xinhua
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