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Shanghai’s quest to be global financial centre gains impetus from Hong Kong troubles but big obstacles remain

Summary:
[unable to retrieve full-text content]China’s decades-old quest to make Shanghai an international financial hub has gained a bit of momentum as Washington mulls tightening China’s access to US capital markets and the future of Hong Kong is clouded by Beijing’s imposition of a national security law.However, a heavily restricted capital account and the absence of a legal system favoured by international business are still huge obstacles for the mainland city to compete with the likes of New York or London, even though Hong Kong’s…

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[unable to retrieve full-text content]
China’s decades-old quest to make Shanghai an international financial hub has gained a bit of momentum as Washington mulls tightening China’s access to US capital markets and the future of Hong Kong is clouded by Beijing’s imposition of a national security law.However, a heavily restricted capital account and the absence of a legal system favoured by international business are still huge obstacles for the mainland city to compete with the likes of New York or London, even though Hong Kong’s…

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