Shanghai to roll out measures to develop as an international financial centre
FILE PHOTO: Investors stand in front of an electronic board showing stock information on the first trading day after the week-long Lunar New Year holiday at a brokerage house in Shanghai, China, February 15, 2016. REUTERS/Aly Song
SHANGHAI: Shanghai, the financial hub of China, said it will roll out a slew of measures as part of the 14th five-year plan to develop the city as an international financial centre.
The municipal government said it would support the FX trading platform, which is overseen by the country's central bank, to steadily expand the size of the interbank FX market and push forward with derivative market developments covering interbank rates, currency and credit, according to a statement published on its website on Tuesday.
It also said the city government would promote more convenient risk-hedging tools for foreign investors holding yuan assets, research and study the launch of a yuan FX futures pilot scheme and steadily push forward with the launch of 30-year treasury futures, stock futures and stock options.
