Shanghai steps up in financial ranking

Industry professionals say FTZ helps lift city's profile around the world

Shanghai ranks as the fifth most competitive financial center worldwide, up from sixth last year, thanks to steady growth, outstanding potential and an improved environment, a report said on Thursday.

The Xinhua-Dow Jones International Financial Centers Development Index Report was based on a survey of 6,607 financial services professionals, regulators and decision-makers around the world. Participants were asked to rate more than 45 global financial hubs.