Shanghai recently finalized a proposal to build the Shanghai into an international financial centre after numerous revisions.

The city drew up the proposal in order to promote the development of its financial industry. A drafter said the eight-chapter?draft contains 35 regulations.

The first chapter discusses the project's overall target, construction principles and the principal responsible party. Chapters 2 to 7 focus on six angles, including financial development and support, environmental construction, financial security, financial cooperation and organizational guarantee. The last chapter includes supplementary provisions.

"The bill not only shares the national strategies for building Shanghai into an international financial centre but clarifies the idea of the building," said Professor Pan Yingli of Antai College of Economics and Management at Shanghai Jiao Tong University, which was involved in the revision process.

For more details, please read the full story in Chinese (http://www.dfdaily.com/node2/node27/node119/userobject1ai100819.shtml).

(China.org.cn July 11, 2008)