Global Financial Strategy - Shanghai stock market to double by 2015

Global Financial Strategy

Search the site >>Advanced search

First for financial regulatory news and views

Shanghai stock market to double by 2015

Friday 16 September 2011 – by Nicola York

Shanghai’s financial markets transaction volume is expected to more than double by 2015 according to the Asian city’s top financial services official.

The annual transaction volume is expected to reach $160tn (€116tn) in the next three to four years and Shanghai says it will improve its financial system to boost this further.

As part of the improvements, Shanghai financial services office head Fang Xinghai says the city will encourage more bond issuance, set up an insurance exchange platform and allow the listing of foreign exchange-traded funds. It will also set up a board for the listing of overseas companies and increase its channels for internationalising the yuan.

By the end of 2010, offices of around half of the foreign financial banks in China were based in Shanghai, including Citigroup, HSBC, Morgan Stanley and Bank of America.

In July, Shanghai came sixth in a list of the top financial centre rankings by the Xinhua-Dow Jones International Financial Centers Development Index. New York, London, Tokyo, Hong Kong and Singapore made up the top five global centres respectively.

Related articles:

Hong Kong exchanges at a crossroads

‘Toxic cocktails’ may alter China policy

Zoellick: US and EU can learn from China

Hong Kong as China’s global financial centre

Europe predicted to escape double-dip

Chinese bank profits up by almost a third

Transactions on Shanghai’s financial markets, including the Shanghai Stock Exchange, inter-bank bond market, Shanghai Futures Exchange and Shanghai Gold Exchange, reached $29tn (€21tn) in the first half of this year, up 7 per cent compared with the same period last year, according to Xinghai.

Send us your thoughts (in strict confidence) or submit an article in response:
Email: [email protected]

WHAT DO YOU THINK?

Name:

Email:

Comment:

Post as	Anonymous
	Display name

Please, enter security code

No comments yet.

Login	Register	Most read	Most commented
Username Password >> Remember me >> Forgotten your password? >> Sign Up GFS is pleased to offer you a two-week free trial. You will receive a daily email bulletin of the latest regulatory news and analysis and a weekly email round-up. Please complete the free trial form. You will also receive full access to our online site.

EDITOR’S CHOICE

INTERVIEWS & FEATURES

STRAW POLL

Will markets in 2012 have a tougher time than 2011?

FIND A REGION world regions