International: China has announced a new action plan to develop the offshore finance sector, aimed at strengthening Shanghai’s position as a leading international financial center.

The plan was officially unveiled on Wednesday at the two-day Lujiazui Forum 2026, which began in Shanghai. According to Chinese authorities, the initiative is expected to further accelerate the internationalization of Shanghai’s financial sector and enhance the city’s competitiveness in global financial markets.

Offshore finance refers to financial services and transactions conducted outside a country’s domestic market, primarily serving international clients and institutions. Under the new plan, Shanghai aims to further expand its role in cross-border financing, international investment, foreign exchange transactions, and global capital flows.

In recent years, Shanghai has implemented a series of reforms and innovative measures to develop itself into a global financial center. The new offshore finance development plan is expected to add fresh momentum to these ongoing efforts.

Information and Photo: Xinhua News Agency.