SHANGHAI — Shanghai government is rolling out favorable policies to help companies hire more experienced professionals as the Asian financial hub is poised to ride the wave of a more global yuan.
The government would launch a five-year project to attract domestic and overseas professionals with tailored career support, Kong Qingwei, Party secretary of Shanghai Municipal Financial Service Office, said on June 28.
Kong said Shanghai was particularly short of financial professionals who had high-tech or global experiences.
With financial regulation being gradually relaxed and Chinese yuan going global, Shanghai is expected to racket up its competitiveness with the world’s financial centers such as New York and London.
Analysts said a strong community of financial professionals is essential for Shanghai to narrow the gap.
Shanghai has about 350,000 people working in the finance sector.
Kong said the number might reach half a million in five years.