Shanghai ranked sixth in global financial centers

[Brotherhood]

Shanghai ranked sixth in global financial centers - People's Daily Online September 21, 2010

The eighth Global Financial Centers Index (GFCI8) released by the Z/Yen group recently shows London and New York rank the first and second, respectively, in bank industries and financial services. Hong Kong ranks the third.

While the big change is that Shanghai surged five places to the sixth as one of the top ten global financial centers. This is the first time that Shanghai squeezed onto the top ten list. GFCI8 shows Shanghai had significantly improved in the rankings of "human" and "business environment" up four places to reach the sixth and the seventh, respectively.

"The two indicators are both the most important factors for the development of the global financial centers. The improvement in 'human' is the result of the adjustment of the personnel structure during promoting the development Shanghai as a financial center," He Ying, vice president of Shanghai Financial University, said to International Financial News during a interview.

In Shanghai, only 1 percent of employers are financial accounting practitioners, compared to around 10 percent in London and New York. So we put focus on the personnel development in number in Shanghai. The fact shows the establishment of personnel system in Shanghai as financial center lies not only in number, but also in structure, said He Ying, because the graduates from financial universities could not find jobs, while the financial institutions could not recruit talents.

In terms of business environment, He Ying says the global financial crisis has provided good opportunities for the establishment of Shanghai global financial center. The good performance of China's economy was eye-catching. In the midst of this, China's financial sectors, played a significant supporting role, which provided better conditions for the establishment of the Shanghai financial center.

By Liang Jun, People's Daily Online

 

[siegecrossbow]

Shanghai ranked sixth in global financial centers - People's Daily Online September 21, 2010

The eighth Global Financial Centers Index (GFCI8) released by the Z/Yen group recently shows London and New York rank the first and second, respectively, in bank industries and financial services. Hong Kong ranks the third.

While the big change is that Shanghai surged five places to the sixth as one of the top ten global financial centers. This is the first time that Shanghai squeezed onto the top ten list. GFCI8 shows Shanghai had significantly improved in the rankings of "human" and "business environment" up four places to reach the sixth and the seventh, respectively.

"The two indicators are both the most important factors for the development of the global financial centers. The improvement in 'human' is the result of the adjustment of the personnel structure during promoting the development Shanghai as a financial center," He Ying, vice president of Shanghai Financial University, said to International Financial News during a interview.

In Shanghai, only 1 percent of employers are financial accounting practitioners, compared to around 10 percent in London and New York. So we put focus on the personnel development in number in Shanghai. The fact shows the establishment of personnel system in Shanghai as financial center lies not only in number, but also in structure, said He Ying, because the graduates from financial universities could not find jobs, while the financial institutions could not recruit talents.

In terms of business environment, He Ying says the global financial crisis has provided good opportunities for the establishment of Shanghai global financial center. The good performance of China's economy was eye-catching. In the midst of this, China's financial sectors, played a significant supporting role, which provided better conditions for the establishment of the Shanghai financial center.

By Liang Jun, People's Daily Online

Only sixth??????

 

[siegecrossbow]

i heard shanghai local people r really really bad @ss
look down all 外地人(peoplte come from other part of china )
humiliate them using the term"鄉下佬" claiming their behavior is uncivilized, a disgrace to shanghai. told them to get their @ss out of shanghai.
what exactly hong konger doing or even worse
is that true?

First of all what you described is not "bad ***" but "arrogant" and second of all I haven't met enough Shanghainess to know for certain.

However I can tell for a fact that Chinese-Dragon won't be too pleased when he sees your post.

 

[CardSharp]

i heard shanghai local people r really really bad @ss
look down all 外地人(peoplte come from other part of china )
humiliate them using the term"鄉下佬" claiming their behavior is uncivilized, a disgrace to shanghai. told them to get their @ss out of shanghai.
what exactly hong konger doing or even worse
is that true?

lol I've heard similar things.

 

[Chinese-Dragon]

However I can tell for a fact that Chinese-Dragon won't be too pleased when he sees your post.

LOL you're right, that is too much of a generalization for me.

I have met plenty of people from Shanghai, and I haven't noticed them looking down on other Chinese people for any such reasons. I'm sure it happens from time to time, but prejudice happens everywhere.

Look at our national leader, Hu Jintao. He is from the countryside as well, and he was born to a poor family.

Who of us here can look down on him?

 

[CardSharp]

LOL you're right, that is too much of a generalization for me.

I have met plenty of people from Shanghai and I haven't noticed them looking down on other Chinese people for any such reasons. I'm sure it happens from time to time, but prejudice happens everywhere.

Look at our Paramount Leader Hu Jintao, he is from the countryside as well, and he was born to a poor family.

Who of us here can look down on him?

I can! jk jk (I really hope there isn't a PLA cruise missile en route to my house right now )

 

[siegecrossbow]

LOL you're right, that is too much of a generalization for me.

I have met plenty of people from Shanghai, and I haven't noticed them looking down on other Chinese people for any such reasons. I'm sure it happens from time to time, but prejudice happens everywhere.

Look at our national leader, Hu Jintao. He is from the countryside, and he was born to a poor family.

Who of us here can look down on him?

Prophecy fulfilled!

Just to off track a little I've heard a story about Hu Jintao and I don't know whether it is true or not. Back when he was a provincial official he invited some of his superiors to a banquet but they never showed up. He instead sat down with the waiters and waitresses and celebrated together .

Wonder what his superiors are doing now if the story were true...

 

[Chinese-Dragon]

Prophecy fulfilled!

Just to off track a little I've heard a story about Hu Jintao and I don't know whether it is true or not. Back when he was a provincial official he invited some of his superiors to a banquet but they never showed up. He instead sat down with the waiters and waitresses and celebrated together .

Wonder what his superiors are doing now if the story were true...

I don't know about that particular incident, but Hu Jintao is definitely a very "humble" and modest guy. He is the complete opposite of Jiang Zemin, lol.

It will be a sad day when Hu Jintao steps down from office.

 

[Brotherhood]

i heard shanghai local people r really really bad @ss
look down all 外地人(peoplte come from other part of china )
humiliate them using the term"鄉下佬" claiming their behavior is uncivilized, a disgrace to shanghai. told them to get their @ss out of shanghai.
what exactly hong konger doing or even worse
is that true?

lol I've heard similar things.

I don't know about Shanghai, but as a Hongkonger, the time that discriminated against mainlanders had long gone, you recalled something like this in the colonial era, not much for sure nowadays, 香港人use to call mainlanders as "Ah Chang" a "character" from a famous TV series who act as a imaginated mainlander=being funny and ignorant in modern city like HK. Nowadays, mainlanders call us "Kong Chang" instead.

 

[Chinese-Dragon]

I don't know about Shanghai, but as a Hongkonger, the time that discriminated against mainlanders had long gone, you recalled something like this in the colonial era, not much for sure nowadays, 香港人use to call mainlanders as "Ah Chang" a "character" from a famous TV series who act as a imaginated mainlander=being funny and ignorant in modern city like HK. Nowadays, mainlanders call us "Kong Chang" instead.

Exactly right buddy.

In Hong Kong nowadays, to be from the Chinese mainland is often seen as a positive thing. People from the mainland are often seen as "very hard working" and "humble". All of the mainlanders I have met personally, have left me with a very positive impression.

Look at me for example, I am busting my *** trying to learn Mandarin... why would I do that if I looked down on mainlanders?

And no one has answered my question, who here would dare to look down on Hu Jintao... just because he was born in the countryside, to a poor family?

 

[Brotherhood]

Exactly right buddy.

In Hong Kong nowadays, to be from the Chinese mainland is often seen as a positive thing. Mainlanders are seen as "very hard working", which is one of the best compliments you can give over here.

Look at me for example, I am busting my *** trying to learn Mandarin... why would I do that if I looked down on mainlanders?

And no one has answered my question, who here would dare to look down on Hu Jintao... just because he was born in the countryside, to a poor family?

Well said but we seems forget to mention a hard cold "Fact", today mainlanders that came to HK are "Rich like Hell" where will HK be nowadays without the support of central government and purchasing power of mainlanders? (especially the properties market, stock market, tourist spending) etc, they call us "Kong Chang" for a reason.

 

[applesauce]

i feel like alot of the cities people in general look down on those from country side(or outside their city), i went to a unfamiliar part of my hometown once and met some people(waiters) who though i was from the countryside lol then they find out im from new york city and my cousin owns the place we were in, oh boy did the attitude change after that.

 

[lunnn]

Telling you the truth that Hongkonger on nowaday are treating the Mainlander as VIP as they brought them the benefit of economy but downunder they still think the Mainlander are ill-educated and undiscipline people.

 

[中国万岁-ProsperThroughCo-]

Telling you the truth that Hongkonger on nowaday are treating the Mainlander as VIP as they brought them the benefit of economy but downunder they still think the Mainlander are ill-educated and undiscipline people.

I think this was the general view and will be for the next 10 years or so. Later, I think we will regard them as equal. And yes, I think it is totally wrong of HK people to treat Mainlanders like that.

The only difference between a HKer and a Mainlander is where they were raised up. HK has had the fortune of being richer because of its importance as a meeting point between East and West, and also because it was not isolated like China. China did some terrible mistakes in the past, but that is now a sunk cost - we shall look forward.

99% of HK people's ancestors did not live in HK centuries ago, but somewhere in the Mainland. I think that is important to remember.

Fortunately, I see a very bright future for HK, China and Taiwan. We will renew 汉光！

 

[Nomenclature]

Only sixth??????

Sixth is already an incredible achievement for Shanghai when RMB is still not freely convertible.

With Yuan internationalization in coming 10 years, there's no doubt Shanghai will leapfrog Tokyo into top 5 and Hong Kong will overtake New York and London to become no. 1

The newest report also ranks Shenzhen at 14th and Beijing 16th. Hopefully Yuan internationalization will launch them into top 10 as well.