Reaffirmation and Reinforcement of Shanghai's Future as an International Financial Center

On 30 January 2012, China's National Development and Reform Commission published its Blueprint for the Construction of Shanghai International Financial Center during the 12th Five-Year Plan Period. The Shanghai Municipal Government aims, amongst other things, to establish a center for cross-border renminbi finance and investments by 2015. It will be interesting to see the outcome of the debate on the future of China's capital controls, a debate that will involve both central government and other local governments besides Shanghai