Analysis Of The Constraints Of The Construction Of Shanghai International Financial Center

With the deepening division of labor in the world and the formation of a large world market, international trade and investment have been pervading almost all the world, and international financial activities kept gathering in some major cities of the world, which resulted in the emergence of quite a few regional and international financial centers. Early in 1992, Shanghai began to implement the strategy of the construction of international financial center. Now Shanghai has grown into an actual domestic financial center, as a result of China's rapid economic expansion.However, compared with the fully developed international financial centers, Shanghai is still faced with a huge gap in economy and finance. The purpose of this study is to analyze and discuss the obstacles and restrictive factors confronting the construction of Shanghai international financial center. The first part analyzes emphatically the actualities of the construction of Shanghai international financial center. Based on the former part, the second part attempts to work out detailed the obstacles and restrictive factors which Shanghai is being or will be faced with, by comparing the concerned qualifications and indices between Shanghai and several fully developed financial cities, as well as between Shanghai and the other two domestic cities, Beijing and Shenzhen. And last but not least, the third part puts forward some relative solutions and strategic countermeasures.Taking a wide view of the evolutionary process of international financial market and its characteristics, China, as the largest developing country in the world, has maintained fast growth in economy and has been badly in need of an international financial center, which will be supported mainly by its own economic entity. Obviously, Shanghai should be of the first choice to become China's international financial center, because it is the most potential city in economy, trade and finance in China. Meanwhile, the marvelous progress achieved by Shanghai financial market is the direct driving force in establishing Shanghai international financial center. Today, as the most developed domestic city in finance, Shanghai has formed a comprehensive nation-wide financial market system and overall developing financial structure. However, contrasting with other mature international financial centers, the financial market of Shanghai is still not sound and mature enough. Undoubtedly, China's rapid economic expansion, stable political environment and Shanghai's own advantages in finance all endow Shanghai with valuable opportunities.Concretely speaking, the gap between Shanghai and the fully developed international financial centers, such as New York and London, can be concluded...