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Shanghai needs improving rules to be global financial center

(Xinhua)
Updated: 2009-05-15 15:50

Zhou Xiaochuan, governor of the People's Bank of China (PBOC), Friday said China needs to modify market regulations to turn Shanghai into a global financial center.

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"(We) should make clear and improve from time to time our rules of the game when developing a global financial center," Zhou told a financial forum in Shanghai.

He said the rules, including the legal system and those on accounting, corporate governance and initial public offering, should be modified for global acceptance.