Can China’s financial sector ever rival London?
The City of London Corporation commissioned a study in 2005 that identified the most
important factors for a strong financial centre. These are listed below in order of
importance:
1. Availability of skilled workers
2. A low-regulation environment
3. Good access to international financial markets
4. Good availability of business infrastructure
5. Good access to customers
6. A fair and just business environment
7. Government responsiveness to the needs of the financial centre
8. A low corporation tax regime
9. Low operational costs
10.Good access to suppliers of professional services, such as legal advice and insurance
11.Good quality of life
12.Accessible culture and language
13.Quality and availability of commercial property i.e. offices
14.A low personal tax regime
For each of the 14 factors, award a score out of 10 for each of Shanghai and London – use
your own knowledge as well as carrying out appropriate research.
Which scorecard comes out top?
How do you think this could change by 2030?