Chinese official calls for enhancing Shanghai's role as international financial center

SHANGHAI, April 29 (Xinhua) -- Senior Chinese official He Lifeng on Tuesday called for the comprehensive enhancement of Shanghai's capabilities as an international financial center.

He, a member of the Political Bureau of the Communist Party of China Central Committee and director of the office of the Central Financial Commission, made the remarks while attending a symposium on supporting Shanghai to build itself up as an international financial center.

He emphasized that the city's functions as a gateway to and hub of financial opening-up should be strengthened continuously under the premise of ensuring financial security, and its status as both a global allocation center for RMB assets and a risk management center should be enhanced.

Shanghai Municipality should assume its primary responsibility, He said, adding that financial regulatory authorities and financial institutions -- especially those in Shanghai -- should enhance coordination and cooperation.