Shanghai Municipal Commission of Financial Services: Continuously deepen important mechanism arrangements such as "Shanghai-Hong Kong Stock Connect", "Bond Connect", "Interchange Connect", etc., and introduce more international-oriented financial products and services.

Zhou Xiaoquan, Executive Deputy Director of the Shanghai Municipal Finance Office, stated at a press conference of the Shanghai Municipal Government on June 12 that in the next step, we will continue to strengthen Shanghai's role as a financial hub, with a focus on improving the quality and efficiency of cross-border finance and breaking through innovations in offshore finance, in order to better serve enterprises in "going global" and co-building the "Belt and Road" initiative. First, we will enhance the level of financial internationalization, further promote the interconnection of financial markets, and deepen important mechanisms such as the "Shanghai-Hong Kong Stock Connect", "Bond Connect", and "Interest Rate Swap Connect". We will increase the influence of the "Shanghai Index" and "Shanghai Price" and introduce more international financial products and services. Second, we will strengthen the foundation of cross-border financial services, continue to promote the reform of foreign exchange exhibition, steadily expand the pilot program of integrated funding pools for both domestic and foreign currencies, extend coverage of exchange rate hedging, and enhance reinsurance, shipping insurance underwriting capabilities, and service levels. Third, we will amplify the effects of offshore finance pilot projects, promote comprehensive reform pilot projects for offshore trade finance services in the Lingang New Area, upgrade services such as free trade offshore bonds, and introduce other offshore financial services in a targeted manner, continuously building an offshore financial system that is aligned with international financial centers.