“We hope to make Shanghai as the Privately Offered Funds center. Please note that it is the center, but not one of the centers.” Shanghai Financial Affairs Office Director Fang Xinghai said on July 10 in Shanghai, “As an important part of the establishment of Shanghai international financial center, the development of Shanghai Privately Offered Funds needs to increase its pace.”
Fei Fangyu, the vice president of China Financial Research Institute of Shanghai Jiao Tong University, said that the development of Shanghai Privately Offered Funds was in an unprecedented good time. “First of all, with such a demand in Shanghai, Shanghai has integrated the development of Privately Offered Funds and the establishment of Shanghai financial center together. Financial Center is both a private banking and wealth management center, which are the proposed tasks at the beginning of the establishment of the financial center. Second, the currently launched stock index futures and the GEM provide our venture capital and Privately Offered Funds with development space, preparing the conditions for the system.”
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