Yesterday, the foreign propaganda Office of the Municipal Party Committee held the eighth press conference of the special series of "Forging ahead on a new journey and Building a New Era". Shanghai Financial Work Party Committee, Shanghai headquarters of the People's Bank of China, Shanghai Banking and Insurance Regulatory Bureau, Shanghai Securities Regulatory Bureau introduced at the meeting, since the 18th National Congress of the Party, Shanghai international financial center construction has made significant progress, Shanghai financial market transactions from 528 trillion yuan to 2,511 trillion yuan, an increase of nearly four times. The value added of the financial sector as a share of GDP increased from 11% to 18%.

With the substantial increase in Shanghai's financial aggregate, the deepening of financial reform, the continuous expansion of financial opening up, the continuous enhancement of the ability to serve the real economy, and the increasingly sound financial risk prevention system. In 2020, Shanghai has basically built an international financial center commensurate with China's economic strength and the international status of RMB.

In the past ten years, the pattern of Shanghai's financial market has become increasingly perfect, and the core function of Shanghai's financial center has been continuously enhanced. The ability to allocate RMB financial assets has been continuously enhanced, and the settlement volume of cross-border RMB business in Shanghai accounts for about 50% of the country. "Shanghai price" covers stock indexes, foreign exchange, interest rates, important commodities, etc. "Shanghai gold", "Shanghai oil", "Shanghai copper" and other prices are increasingly influential internationally.

Over the past decade, Shanghai's financial reform and opening up have deepened, strongly supporting the development of the real economy. The scale of direct financing continues to expand, with the amount of direct financing in the Shanghai financial market increasing from 3.9 trillion yuan in 2012 to 18.3 trillion yuan in 2021. As of the end of September this year, 473 listed companies on the science and Technology Board have raised a total of 718.18 billion yuan and a total market value of 5.5 trillion yuan.

In the past ten years, Shanghai's financial institution system has become increasingly sound, and the construction of international financial talents has accelerated. The total number of licensed financial institutions in Shanghai increased from 1,227 at the end of 2012 to 1,719 at the end of June this year, with foreign financial institutions accounting for about 30 per cent. Positive progress has been made in building a highland for financial talents, with the number of financial employees in Shanghai reaching 470,000.

In the past decade, Shanghai's financial and business environment has been continuously optimized, and the influence of the financial center city has significantly increased. Shanghai is the first in the country to set up a financial court and establish a specialized mechanism for financial investigation, prosecution and trial.

Over the past decade, Shanghai has made great progress in building itself as an international financial center, with a substantial increase in its financial volume, in-depth financial reform, continued expansion of financial opening up, enhanced ability to serve the real economy, an increasingly sound financial risk prevention system, and further highlighting the country's strategic position. Shanghai financial work Party secretary Letter Yadong said.