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Pudong a hub for financial professionals

Updated: 2015-03-20

( chinadaily.com.cn )

The Pudong New Area is taking shape as a pool for financial talents, with about 241,500 financial professionals gathering in the district by the end of 2013, accounting for more than 60 percent of the total financial talents in the city, according to a research paper released recently.

It is estimated that by the end of 2014, the number of financial professionals in Pudong may reach more than 280,000, according to the paper released by the Pudong Financial Service Bureau, the Pudong Institute of Finance and the TNS Research International, a leading market research company.

Among the 241,500 financial talents, there are 20,600 overseas-returned Chinese, 4,200 expatriate financial specialists and 10,300 who had worked overseas.

During the 12th Five-Year Plan Period, the Pudong New Area gathers an increasing number of financial professionals, with an annual growth of 17 percent. Moreover, the district’s financial professionals are more high-level, younger and boast overseas experiences.

"Human resource is the No 1 resource for social progress and development of enterprises. Financial talents are the key factor that will decide the future of Lujiazui financial area," said Jian Danian, deputy director of Pudong New Area, who compared financial talents as an invisible Shanghai Tower, the nation’s highest skyscraper.

So far, Lujiazui has attracted 420,000 professionals working in the district, 190,000 of whom are financial professionals, with an annual increase of about 10,000.

Lujiazui has been making efforts to establish a sound system to better serve financial professionals, including building financial talents apartments, providing renting subsidies for them, and initiating a postdoctoral innovation program to attract post-doctors to do research in companies in the district.

These efforts are aimed at accelerating Shanghai into an international financial center. The State Council backs developing Shanghai into a global center of finance by 2020.