SPIRE SIGN IN Register

Spirethoughts

Spire's six most recent Spirethoughts.

Drones are delivering medicine in Africa
Nigeria has entered the AFCFTA African free trade agreement, increasin...
IT investments to pour into India’s healthcare sector
The European Union-Vietnam Free Trade Agreement (EVFTA) is set to open...
Deploying Industry 4.0 technology to mitigate climate change
Deploying Industry 4.0 technology to mitigate climate change
Will cost-effective compost rejuvenate African agriculture
Will compost turn out to be the magic mineral for African agriculture?

The up-and-coming Shanghai financial center

China’s current number one plan is to shift from a manufacturing-based export economy to one more driven by domestic consumption. It also aims to build its own world-class financial services market by 2020.

However, two big hang-ups are holding the reins back in this expansive growth:

The limitations on RMB convertibility is a direct obstacle to organic interaction between global and local Chinese trade. All foreign exchange transactions must go through China’s State Administration of Foreign Exchange (SAFE), which has tight policy control.
Credit card monopoly: Unionpay, formally known as China UnionPay, is the only bank card association allowed to provide card payment settlement services in China. Though effective in controlling risk, leveraging resources and reducing costs, it stifles development and limits market access for Visa, MasterCard and other international players.
Back to Top

Back to Home
BTBTBTBTBTBT