The Administrative Committee of Shanghai Hongqiao Central Business District (CBD) and the Shanghai Finance Office signed a strategic cooperation memorandum to promote financial functionality in Hongqiao CBD on July 28. [Photo/shhqcbd.gov.cn]

The Administrative Committee of Shanghai Hongqiao Central Business District (CBD) and the Shanghai Finance Office signed a strategic cooperation memorandum to promote financial functionality in Hongqiao CBD on July 28, local government reports.

Min Shilin, Party secretary of the Administrative Committee of Hongqiao CBD, and Kong Qingwei, his counterpart in the Shanghai Finance Office, reached a consensus on policy making, allocation of resources and the use of technology to further promote regional economic development.

Accordingly, the Shanghai Finance Office pledges strong support to the growth of both supply chain finance and trade finance in the Hongqiao CBD. There are plans afoot to build an economic headquarters designed to provide financing for many small and medium-sized enterprises.

There are also future plans to host a range of finance related programs, including a round-table conference for finance departments in the Yangtze River Delta.

Min stated he believed the Hongqiao CBD would become a world-class business district. He pledged to deliver greater financial services to local industry with a view to aiding the development of the district into a center for global trade.