Shanghai's financial and monetary developments Puxi skyline of Shanghai is mainland China's most economically developed cities. The tertiary industry in Shanghai's economy accounted for a certain proportion, the most important industries including finance, real estate, insurance, and transportation. Is located in Lujiazui, Pudong New Area of Shanghai's new financial center, the PBOC Shanghai headquarters in Shanghai in August 2005 inauguration, the main function is to manage the open market operations. Global 500 enterprises have been part of China in Shanghai and set up headquarters, branches and offices. Shanghai has become China's highest tax rate in the city, Shanghai has always been turned over to the tax up to half of China's total domestic tax.
Before 1949, in Shanghai, there are many foreign banks and companies. Shanghai was China's economic and trade center. Shanghai is not only together with the central bank, Bank of China, Bank of Communications, Agricultural Bank of China's big four government banks, led by the former state capital and the bureaucratic capital of financial institutions and foreign financial institutions in China. Countries gathered at the Bund near the fairly powerful banks: United Kingdom HSBC, Bank of Germany, Germany and China, Japan, Yokohama Specie Bank, Russia Russo-Chinese Bank, Calyon, Citibank, Belgium, composed of Belgian Bank of the "Oriental Wall Street." Also has a large number of banks operating in private capital, money and trust companies (hereinafter referred to as private line Zhuang companies).
From 1927 to 1937 experienced a "golden period" of development, before the outbreak of the Sino-Japanese War, Shanghai, the company has reached a private-line Zhuang 105; and through the Sino-Japanese War, the liberation war era and up to May 1949, when the liberation of Shanghai, Shanghai, the private the financial sector's overall financial strength has been greatly weakened in fact, there are still 119 private banks, 80 banking house, and five trust companies. Yet by the end of 1952, Shanghai, the number of private financial institutions dropped to more than 60. Early in 1956, the official policy of the implementation of public-private partnerships and finally all merged into a unified public-private partnerships Bank General's Office.