Beijing aims to become global financial hub
January 11th, 2012 - 5:48 am ICT by IANSBeijing, Jan 11 (IANS) The Beijing government has pledged to turn the Chinese capital into a major international financial hub.
It will secure more credit supply from the state financial institutes for its development, the government said Tuesday.
It will also roll out favourable policies to lure more talents and financial institutions.
The aim is to develop Beijing into a major financial centre with significant global influence, Xinhua reported.
Beijing is home to state financial departments, regulatory agencies, and many domestic and foreign financial institutions.
Beijing accumulates about 60 percent of the country’s financial assets. Over 40 percent of the financial clearances are conducted here.
Last year, the Xinhua-Dow Jones International Financial Centre’s Development Index ranked Beijing 14th among 45 international financial centres around the globe.
New York, London, Tokyo, Hong Kong, Singapore, Shanghai, Paris, Frankfurt, Sydney and Amsterdam in that order, topped the list.
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