The allocation function of global resource elements is the core function of a global city, and it is also a characteristic symbol of the high-quality development of a global city. The strength of the global resource allocation function directly determines the status of a city in the global urban network.
In November 2018 , when General Secretary Xi Jinping inspected Shanghai, he asked Shanghai to accelerate the improvement of the city's energy level and core competitiveness, so as to better serve the overall reform and development of the country. In November 2019 , the General Secretary visited Shanghai again, emphasizing that Shanghai should strengthen the "four major functions" such as the global resource allocation function, and promote high-quality economic development.
Shanghai is an important window for the world to observe China, representing China's participation in international cooperation and competition. Strengthening the global resource allocation function is a must-answer question for deepening high-level reform and opening up for Shanghai, which is accelerating the construction of a socialist modern international metropolis with world influence, and the only way to promote high-quality development.
Development, opening up, agglomeration, and the functions of financial elements continue to grow bigger and stronger
June 19 , 9:00 am , Shanghai Futures Exchange . The world's first deliverable alumina futures are listed.
my country is a big country in the aluminum industry, and alumina is the main raw material of the aluminum industry, which is widely used in aviation, aerospace, high-speed rail and other fields. my country's alumina production and consumption have long ranked first in the world, and there are many upstream and downstream enterprises in the industrial chain, with strong risk management needs. The launch of alumina futures has become a "golden bell" for my country's alumina enterprises.
The listing of a futures product has a far-reaching impact. Tian Xiangyang, secretary of the party committee and chairman of the Shanghai Futures Exchange, commented: listing alumina futures will help promote the effective connection and smooth circulation of the futures and spot markets, improve the efficiency of resource allocation, and better coordinate the alumina resources in the domestic and international markets. Further improving the resilience and security level of the supply chain of my country's aluminum industry chain will help improve the market-based pricing mechanism, accelerate the formation of open, fair and just market prices, and help companies effectively manage risks and efficiently allocate resources.
Applying and developing financial instruments in the financial market to continuously serve the allocation of national strategic resources is the mission and pursuit of Shanghai's financial factor market. In recent years, financial innovation products such as SSE 50 , CSI 300 ETF options, shipping freight index futures, and crude oil options have been listed successively, greatly improving Shanghai's resource allocation capabilities as an international financial center.
Shanghai has become one of the regions with the most complete financial factor markets in the world, with various financial institutions such as currency, stocks, bonds, futures, bills, foreign exchange, gold, insurance, and trusts. In 2022 , the transaction volume of Shanghai's financial market will exceed 2933 trillion yuan, and the financial industry will account for 19.3% of Shanghai's GDP , nearly one-fifth of it. Among them, the amount of initial public offerings in the Shanghai stock market ranks first in the world, and the trading volume of spot gold and the scale of the crude oil futures market rank among the top three in the world.
In Lujiazui Shanghai Center, the tallest building in China, BNP Paribas (China) Co., Ltd. has occupied two full floors. "We are applying for the license of a wholly-owned securities company. If approved, we will become a fully-licensed foreign-funded financial institution." Zhang Youfang, the company's vice president, said, "The most important aspect of opening up finance is the license. Many foreign-funded financial institutions in Lujiazui have achieved full The license reflects the height of financial openness in Pudong and Shanghai as a whole."
Strengthening the construction of the core functions of an international financial center and serving both domestic and international markets is an important content for Shanghai to enhance its resource allocation function. Recently, closely following this function improvement, Shanghai has continuously gathered global resources, and wholly foreign-owned insurance companies and wholly foreign-owned securities companies have been established successively.
Capital is an important resource for an international financial center. Shanghai has set up a good platform to let the world sing. Pudong promotes the global institutional investor gathering plan and the joint action of major factor markets to further increase the number of international trading varieties and enhance the internationalization level and concentration of factor markets. At present, 9 of the world's top ten asset management companies have settled in Lujiazui, and Lujiazui has become an important gathering place and the first choice for global asset management institutions. Not long ago, the 3rd Lujiazui Global Asset Management Summit Forum was held. Pudong launched some opinions on accelerating the construction of the core functional area of the Lujiazui Financial City Global Asset Management Center and 15 measures including building a global asset management collaborative network to promote the asset management industry . Fixed chain, strong chain, supplementary chain, nurturing chain, extended chain.
Not only the introduction of capital, Shanghai is also expanding the allocation of capital to the outside world. Take Bank of China Shanghai Branch as an example. From January to May this year , the bank's cross-border RMB business volume exceeded 1.8 trillion yuan, an increase of more than 8% year-on -year, and its market share ranked first. So far, the bank has provided various cross-border RMB settlement facilitation services for more than 2,700 companies, underwrote and issued the first sustainable development panda bond (denominated in RMB) of an international development institution, the first publicly offered panda bond of a European enterprise, and the first green bond . Sovereign panda bonds, the first sovereign panda bonds in the Middle East and other first orders. Up to now, the overall issuance volume of the Shanghai-based inter-bank panda bond market has exceeded 500 billion yuan, and more than 70 issuers from Europe, the Americas, the Middle East, and Southeast Asia have issued panda bonds.
On June 8 , the 14th Lujiazui Forum opened. Gong Zheng, deputy secretary and mayor of the Shanghai Municipal Party Committee and co-rotating chairman of the forum, said that Shanghai should aim at world-class, continue to strengthen the global resource allocation function, focus on expanding the opening of high-level financial systems, promote the interconnection of high-efficiency financial markets, and gather high-level financial institutions. mechanism.
Build goods flow, information flow, talent flow, and efficiently allocate element resources
In the process of allocating resources, in addition to accelerating the improvement of the internationalization of Shanghai's financial market, Shanghai is also firmly grasping other elements of resources - information, technology, talents, goods, etc., to continuously improve resource allocation capabilities.
In the fourth phase of Yangshan Port, the wharf operates 24 hours a day, cargo ships enter the port in an orderly manner, and smart AGV cars transport containers to designated locations. Yangshan Port has connected more than 200 important ports around the world, and its liner shipping connectivity index reached 145.68 , ranking first in the world. Busy logistics has become a distinctive feature of Shanghai port.
After maintaining the world's largest container throughput for 13 consecutive years, in the first five months of 2023 , Shanghai Port's container throughput reached 16.387 million TEUs, a year-on-year increase of 2.3% ; cargo throughput reached 175.001 million tons, a year-on-year increase of 6.7% ; The total value of imported and exported goods was 4.29 trillion yuan, a year-on-year increase of 12.2% .
