Wendy Zhang/ Shanghai Daily news

Shanghai's financial sector has had a steady and healthy growth with an added value of 50.11 billion yuan (US$6.3 billion) this year, up 13.1 percent from the pervious year.
So far this year, local companies have directly raised a total of 22 billion yuan by issuing short-term financial notes, corporate bonds and asset-backed securities. The growing ratio of direct finance-raising tactics indicates that the local financial market is growing in a healthier way, said an expert.
The city is the first in China to complete most of the shareholding reforms. The booming bond market has also provided more opportunities for companies to raise money.
Shanghai has also made achievements in its macro-control policies. By September of this year, the city reported a combined loan balance of 1.82 trillion yuan in both yuan and foreign currencies, up 10.21 percent from a year earlier, while the increase margin was down 3.82 percentage-points from the previous year and nearly four percent from the national average.
Banks have also been successful in controlling property credit risks. According to the Shanghai Banking Regulatory Commission yesterday, domestic commercial banks in the city registered a slow growth in their individual housing loans last month.