Jerugozman: Shanghai should become a worldwide capital transporter

On July 11, Professor William-Gozman of Yale University at Saif*cafr's financial Masters said that in order to become an international financial centre, Shanghai should first establish a huge capital market, improve its legal and regulatory environment and encourage Chinese wealth to invest abroad. "The world sees the international financial centre as the first to have a huge capital market, to raise money and to fund the country and the world." What we have to ask is whether Shanghai is channelling money to the world or just sending money to China. How long will Shanghai be able to send money to the world?　　"Gozman said.　　He also pointed out that global financial centres such as New York, London and Amsterdam provide investment opportunities for local investors and the world, where people can invest not only in a country but also in the world. Gozman also said that an international financial centre must have a good legal and regulatory environment, and if a region-friendly regulatory environment and a clear dispute resolution mechanism, it will attract many enterprises to settle in development.　　To build an international financial center, Shanghai must work hard to create a good investment environment and attract investors all over the world. Finally, he stressed that international large financial centres have experienced the development process of capital importers and capital exporters, and that China should establish a good currency exchange mechanism and export huge capital abroad, that is to say, to allow Chinese investors to look abroad. We should actively develop different investment channels so that Chinese investors can buy shares of overseas companies or invest directly in overseas companies, so that Chinese people could invest their wealth overseas. (A merry from Shanghai)