Shanghai set to be financial hub for yuan-denominated assets

An aerial view of Shanghai. -Photo/Xinhua

SHANGHAI, Jan 26 (China Daily/ANN): Although it is still uncertain as to how long COVID-19 will ravage humanity and wreak havoc on markets worldwide, indications point to Shanghai increasingly becoming a global business hub, and these views are supported by the many job ads posted shortly after the new year began.

Public information from online recruitment platform Glassdoor shows major asset management company BlackRock has announced many vacancies for its Shanghai operations since the beginning of the year, including openings for a vice-president with an annual remuneration of at least $133,000.Likewise, New York-based hedge fund Two Sigma and multinational investment company Fidelity International are looking for professionals in areas including compliance, trading and distribution in Shanghai.