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Guangzhou for first time listed as world financial center
Guangzhou has been listed, for the first time, as a world financial center by the Global Financial Centers Index (GFCI), ranking 37th among 88 global cities.

Updated:1491898324Source:SilkRoadPost

Guangzhou has been listed, for the first time, as a world financial center by the Global Financial Centers Index (GFCI), ranking 37th among 88 global cities.

The index, compiled on the basis of finance, infrastructure, human capital, reputation and business environment and released on March 27, also included five other cities on the Chinese mainland — Shanghai, Beijing, Shenzhen, Qingdao and Dalian.

Guangzhou’s ranking comes after years of development of its financial and human resources sectors and shows the key role they play in driving the city’s economic development.

The added value of Guangzhou’s finance industry rose 12 percent to 180 billion yuan last year and contributed 9.3 percent to the city’s GDP.

More than 2,780 financial institutions and organizations have been established in the city, injecting vigor into the finance industry and making Guangzhou a modern financial center.

Guangzhou International Financial Town, which is under construction, aims to attract more international financial companies to set up headquarters and provide comprehensive financial services here.

Guangzhou has attracted a growing number of high-level financial talents in recent years by providing convenient policy support and giving large amounts of subsidies to the financial sector. It has also received huge attention for its move to give a green light to 1,560 foreign experts between 2016 and March 15 this year to help build a smart city.

The next target for Guangzhou is to build a “city of venture capital” and increase the added value of the finance industry to 200 billion yuan, with more preferential policies offered and massive funds invested.

(By Wing Xie, Louis Berney)

Editor:Joanna You
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