Sir Martin Sorrell, Mitte, CEO von WPP plc., spricht neben Shanghai Bürgermeister Yang Xiong, rechts, und Peter Hancock, Links, CEO der AIG, während für die 27.
Sir Martin Sorrell, center, CEO of WPP plc., speaks next to Shanghai Mayor Yang Xiong, right, and Peter Hancock, left, CEO of AIG, during the 27th forum of the International Business Leaders' Advisory Council (IBLAC) for The Mayor of Shanghai in Shanghai, China, 1 November 2015. Shanghai will continue to be a pioneer in policy and other reforms as it seeks to become a hub of innovation with global influence, Mayor Yang Xiong said Sunday (1 November 2015) at the closure of the 27th forum of the International Business Leaders' Advisory Council (IBLAC) for The Mayor of Shanghai. "Financial reform, which is part of our efforts to support innovation, will be accelerated in the pilot free trade zone in the city, " Yang said at the forum. Last week, financial regulators agreed to stage more trials in the pilot free trade zone, including experimenting with the yuan's convertibility under the capital account, driving use of the Chinese currency in cross-border trade, as well as in direct and financial investment. Also, qualified domestic investors in the zone will be allowed to invest overseas while the foreign issuance of yuan-denominated bonds by companies operating in the zone will be given the go-ahead.
