Shanghai Sets Sights on Offshore Finance Expansion in New Five-Year Plan

Shanghai is intensifying its bid to become a global financial center. In the 15th Five-Year Plan (2026–2030), local officials said the city will prioritize financial market internationalization and aggressive offshore financial services expansion.

The strategy seeks to establish Shanghai as a global RMB asset allocation hub.

City officials promised to improve Stock Connect, Bond Connect, and Swap Connect and help foreign financial institutions open regional headquarters and branches.

Shanghai will enhance international reinsurance and shipping insurance underwriting and service.

Shanghai's financial sector contributed nearly 16 percent to the economy in 2025. City officials reported that the industry's value rose 9.7 percent to 898 billion yuan (US$130 billion) last year.

One of the world's most comprehensive financial hubs by market infrastructure, Shanghai's financial markets traded over 3,600 trillion yuan annually.