Shanghai Faces Hurdles to Become a Global Financial Hub

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May 3 (Bloomberg) -- Bloomberg's Susan Li reports on the challenges facing Shanghai in its goal to become a global financial center. Shanghai, which China tasked in 2009 with becoming a financial hub by 2020, is introducing investment products to tap the nation’s 49.5 trillion yuan ($7.3 trillion) of corporate and household savings. Shanghai Mayor Han Zheng said in an interview last year the city’s advantage is rapid growth, which is "certainly" outpacing that of New York and London. (Source: Bloomberg)

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