Shanghai will strengthen the construction of the science and technology innovation board system, cultivate and expand long-term capital and patient capital.

The Fourth Session of the Sixteenth Shanghai Municipal People's Congress opened at the Shanghai World Expo Center on the morning of February 3rd. Shanghai Mayor Gong Zheng delivered the "Government Work Report". The report stated that this year, it is necessary to coordinate with the central financial management department to deepen financial system reform, strengthen the construction of the sci-tech innovation board system, promote the interconnection between interbank and exchange bond markets, explore the construction of an offshore financial system, enhance the level of convenience for cross-border financial services, and accelerate the construction of an independent and controllable RMB cross-border payment system. Strengthen the construction of the sci-tech financial reform pilot zone and the cluster areas of equity investment, mergers and acquisitions, and financial technology, vigorously cultivate and expand long-term capital and patient capital, improve the industry-finance docking mechanism, and promote more financial resources to support expanding domestic demand, technological innovation, advanced manufacturing, green development, and small and micro enterprises.