Office director meets with chairman of Standard Life
On the afternoon of July 8, Zheng Yang, director of the Shanghai Municipal Financial Service Office, met with a visiting group led by Sir Gerry Grimstone, chairman of Standard Life Plc. They discussed a number of topics including accelerating Shanghai international financial center construction, strengthening the linkage between free trade zone and international financial centers and promoting Sino-UK financial cooperation.
Zheng briefed the guests on the latest development of Shanghai international financial center construction and the progress of Shanghai free trade zone in the past three years. Zheng said Shanghai will strive to promote the opening and innovation of the city’s financial industry, create a favorable financial environment and enhance the level of financial services as the city is seeking to build itself into an international financial center that is adapt to China’s economic strength and the international status of yuan by 2020.
Strengthening constructions of market system, institutional system, regulatory system, supervision system and legal system and promoting the interaction of the free trade zone with financial center construction will be on the top of working agenda in the future, Zheng said.
Zheng said he hoped that China and the UK would enhance cooperation and continue to explore the golden era for Sino-Britain financial cooperation.
Grimstone introduced the potential impact of the Brexit on British economy and financial situation. He also pointed out the Brexit could be a good opportunity to deepen the financial cooperation between China and the UK and between Shanghai and London against the backdrop of the golden era.
Grimstone said they are looking forward to Shanghai’s continuing effort to strengthen supervision system, construct legal system and promote the interaction between the free trade zone and the international financial center, and are willing to further explore a stock trading link between Shanghai and London and to participate in the construction of Shanghai international insurance center.