Shanghai still faces skills shortage

China’s plan to turn Shanghai into a leading financial centre by 2020 could be undermined by its ability to attract the talent it needs, as suggested by respondents to our latest poll.
Shanghai high rises at sunset
Shanghai high rises at sunset

This time last year, China's leaders announced plans to develop Shanghai into an international financial centre by 2020, but, with just 10 years to complete the transition, the city faces a skills shortage. In our web poll last week, FinanceAsia readers said that it is still far harder to hire finance professionals in Shanghai than in either Hong Kong or Singapore.

And the skills shortage is but one of the obstacles Shanghai must overcome to transform into a globally competitive financial centre, argue market participants. China's currency is still not freely convertible and the rule of law is perceived to be far weaker than in Hong Kong, Singapore or even Mumbai. The government's direct...

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