Shanghai attracts more foreign financial firms

The growing presence of more international industry leaders serves as a snapshot of Shanghai's continued efforts to open up its financial market and bring its financial capacity to the next level.

A new Memorandum of Understanding signed between the Shanghai municipal government and the City of London Corp on March 20, is the latest example. The MoU, valid until 2028, continues the financial cooperation that started between the two cities approximately four decades ago.

Alderman Alastair King, Lord Mayor of the City of London, said at the signing ceremony that there is vast room for cooperation between the two cities especially in areas of digital finance, green finance and offshore renminbi.