Research On The Construction Of Shanghai International Financial Center

With increasingly merging with the process of economic globalization after China's accession to the WTO, and the China's growing need for capital congregation and configuration due to its economic development, it is the increasingly important strategic significance for China to build an international financial center. As Shanghai is the current potential city of domestic economic, trade, financial and other aspects of urban development, no doubt it should be the first choice to build international financial center in China.From a historical perspective, Shanghai has the ability to become an international financial center. Back in the 1920's to 1930's, the Shanghai t is the largest international financial center in Far East. Since 1992 when the strategy of building an international financial center was put forward, Shanghai has gradually developed into a virtual domestic financial center with China's rapid economic development. Currently, Shanghai has established a diversified financial structure of market system and all-round development of the financial situation with more remarkable achievements, and it is acknowledged generally that Shanghai is the most developed city of financial industry in China. However, compared with the mature international financial centers, it is still not perfect, immature of Shanghai operation of the financial markets and its important status in the development of the financial sector. If Shanghai wants to be an international financial center in a real sense, and gain a foothold in the international financial system, it should accelerate the upgrading of the existing international financial center, and highlight its advantages, especially its relatively strong conditions over these of other large and medium-sized cities. The ultimate goal of Shanghai international financial center is to be developed into a functional one, which supports the economic development of our country as the foundation, with the system made up to serve the development of the country and the world.The construction of Shanghai international financial center, should be under the national support, and must be closely linked with the country's overall economic development. At the same time, we must correctly handle the relationship between Shanghai and Beijing, Hong Kong. Although there is a certain level of competition in the development of the financial centers of these cities, we can better promote mutual development, in the precondition of wholly consideration and giving full play to their advantages.This article, based on the historical and real development of Shanghai's financial targets, analyzes Shanghai's advantages and disadvantages of building an international financial center, puts forward some relevant proposals and measures on improving Shanghai's status and the current process as an international financial center, from a macro basis and economic infrastructure.