Guangzhou will set out to build a regional financial center and the percentage of the city's financial industry to the local GDP will climb to about 12% by 2020, on a par with the financial centers in developed countries, stated Guangzhou executive vice mayor Wu Yimin at a recent seminar on the development of Guangzhou into a regional financial center.
The seminar on March 9 was attended by representatives from the Citigroup and national and provincial financial regulatory authorities, as well as scholars from Sun Yat-sen University and other institutions. The attendees explored the emerging trends in the international financial industry and discussed the success experiences of various regions in building financial centers.
According to Executive Vice mayor Wu, to grow into a regional financial center, Guangzhou will build a base for the headquarters of financial businesses and for the innovation of the financial industry, and create an integrated financial service system, a multi-layered financial market system, and a diversified financial organizing system. Guangzhou will also strive to break new grounds in financial reforms and innovation, financial infrastructure reform, financial ecosystem cultivation and talent training, and regional financial cooperation and exchange.
The seminar on March 9 was attended by representatives from the Citigroup and national and provincial financial regulatory authorities, as well as scholars from Sun Yat-sen University and other institutions. The attendees explored the emerging trends in the international financial industry and discussed the success experiences of various regions in building financial centers.
According to Executive Vice mayor Wu, to grow into a regional financial center, Guangzhou will build a base for the headquarters of financial businesses and for the innovation of the financial industry, and create an integrated financial service system, a multi-layered financial market system, and a diversified financial organizing system. Guangzhou will also strive to break new grounds in financial reforms and innovation, financial infrastructure reform, financial ecosystem cultivation and talent training, and regional financial cooperation and exchange.
