Shanghai, June 28 (Eastday): The Lujiazui Forum 2013 opens today in the morning. Yang Xiong, mayor of Shanghai delivers a keynote speech at the thematic meeting. Yang Xiong points out that in the process of building Shanghai into a financial center, the next step is to constantly expand the depth and width of market.

Yang Xiong expresses that Shanghai should always hold the core of financial market system, and continuously strengthen the gather and radiation ability of the financial center. At present, the major financial markets in China, including national markets such as securities, foreign exchange, future goods, financial futures and gold, converge in Shanghai. Close to the market and relying on the market are all characteristics distinguishing Shanghai from other cities in financial development, and the prominent advantages in building Shanghai into a financial center.

Over the years, Shanghai has successfully launched a large number of financial products and tools such as stock index futures, gold futures, medium-term notes, private placement bonds of small and medium-sized enterprises on the basis of consolidating and enhancing the function of the current financial market. The scale of financial market expanded quickly and the GMV of financial market has reached 528 trillion Yuan, increasing three times compared with the year 2007. Stock turnover ranks fourth in the world while the stock value ranks the seventh, and gold spot trading volume has maintained the world’s first for many years.

Yang Xiong points out that Shanghai will set foot in strengthening functions and expanding the width and depth of financial markets. In the aspect of width, market coverage should be further expanded to strengthen the overall containing ability of the market. In the aspect of depth, the structure of market participants should be further optimized to enrich market level and speed up the strengthening of multi-level strong function financial market system.