Posted 9/27/2023, 1:30:15 PM

Shanghai Urged to Open Markets and Cut Red Tape to Boost Foreign Investment and Become a Global Financial Hub

EU chamber urges China to walk the talk on liberalizing markets to boost FDI and make Shanghai a global financial hub.
Shanghai needs to cut red tape, reduce taxes, make yuan fully convertible, and open market access to attract foreign investment.
Reforms over 20 years have not lived up to expectations, Shanghai still far from a true global financial center.
Pent-up demand after reopening did not materialize, foreign firms deterred by uncertainty, property woes, tightened national security.
Shanghai's allure as magnet for foreign investment is fading, bank and finance market still seen as too regulated.

scmp.com

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