International Financial Centers and the Competition over Financial Talents: Implications for Shanghai

Abstract

This paper discusses Shanghai’s ambition to build an international financial center and the implication for financial talents competition. Shanghai was the largest financial center in the Far East in the early 20 century and is now the financial center of China. But there is still a huge gap to the first-class financial center like New York or London. The lack of international and advanced financial talents impedes Shanghai’s step. To attract more financial talents to work and live in Shanghai, it is must to open the financial markets, reform the taxation systems and provide more live convenience to them.