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Further Accelerating the Development of Shanghai as an International Financial Center and Providing Financial Support
The Opinions on Further Accelerating the Development of Shanghai as an International Financial Center and Providing Financial Support for the Integrated Development of the Yangtze River Delta Region (Yinfa No. 46 [2020]) was officially released on February 14, 2020.
In order to implement the decisions and arrangements of the Central Committee of the Communist Party of China (CPC) and the State Council, upon the approval of the State Council, the Opinions on Further Accelerating the Development of Shanghai as an International Financial Center and Providing Financial Support for the Integrated Development of the Yangtze River Delta Region (Yinfa No. 46 [2020]) was officially released on February 14, 2020.

It is a major development strategy determined by the CPC Central Committee to accelerate the development of Shanghai as an international financial center and the integrated development of Yangtze River Delta, which also fully demonstrates our continuous efforts in improving the national governance system and enhancing governance capacity in the financial sector under the guidelines of the Fourth Plenary Session of the 19th CPC Central Committee. The Opinions lays out 30 specific measures with regard to proactively promoting financial pilot programs in the Lin-gang Special Area, expediting the opening-up of financial sector in Shanghai at a higher level, and providing financial support for the integrated development of the Yangtze River Delta region. Helping to further accelerate the development of Shanghai as an international financial center and the integrated development of the Yangtze River Delta region, the Opinions is of major strategic significance for leading the high-quality growth of the country and speeding up the building of a modern economic system.

The impact of recent novel coronavirus pneumonia outbreak on China’s economy is temporary, while our policies on deepening the financial supply-side structural reform and further opening up the financial sector are long-upheld, which will not be influenced by the outbreak. Instead, our reforms will pick up pace, our door will open wider to the world, and our capacity for risk governance will grow stronger.
   
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