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Shanghai’s global hub ambitions take a hit as high-tech rival Shenzhen’s new-found autonomy threatens to put it in the shadows

Summary:
[unable to retrieve full-text content]Shanghai’s efforts to build itself into an international financial hub suffered a blow when Beijing granted greater autonomy to its high-tech rival, Shenzhen, aimed at boosting its role as a model for the country’s development, according to analysts.With the southern city neighbouring Hong Kong now able make its own laws on market liberalisations, Shanghai, formerly a front runner in making economic and financial reforms, finds itself under mounting pressure to maintain its status as mainland…

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[unable to retrieve full-text content]
Shanghai’s efforts to build itself into an international financial hub suffered a blow when Beijing granted greater autonomy to its high-tech rival, Shenzhen, aimed at boosting its role as a model for the country’s development, according to analysts.With the southern city neighbouring Hong Kong now able make its own laws on market liberalisations, Shanghai, formerly a front runner in making economic and financial reforms, finds itself under mounting pressure to maintain its status as mainland…

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