SHANGHAI has recently unveiled an ambitious plan to cement its status as a leading global asset management centre, targeting 55 trillion yuan (US$8.1 trillion) in assets under management by 2030 – roughly one-third of China’s projected national total.
According to China Daily, guidelines recently issued by the Shanghai municipal government is pushing to strengthen the city’s role in the global allocation and risk management of yuan-denominated assets while supporting China’s broader economic development and financial opening-up.
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