Zhang Yugui

Dean, School of Economics and Finance (SEF), Shanghai International Studies University

Prof. Zhang Yugui is Dean of the School of Economics and Finance (SEF), Shanghai International Studies University. He is a doctoral supervisor and his main research areas are global financial competition and industrial change, as well as the Chinese economy. Prof. Zhang’s major academic works include research monographs and more than 700 articles published in People’s Daily, Liberation Daily, Global Times and other newspapers. He is a longtime guest on CCTV, Phoenix Satellite TV and Shanghai Radio and Television. Prof. Zhang has also submitted proposals for the central and municipal government in economic and financial decision-making.

A cyclist and pedestrians wearing protective masks travel past buildings on Financial Street in Beijing, China on 19 May 2021. (Yan Cong/Bloomberg)

Blindspots in the financial regulation of China’s tech ‘platform companies’

Zhang Yugui points out that China’s financial services development is currently at the awkward stage where there is much financial innovation and the opening up of the financial sector, but not yet the corresponding capabilities to manage the complex financial systems and cutting-edge fintech. Hence we see the recent rash of anti-monopoly measures directed at tech giants such as Ant Group and Tencent. But has the industry reached a true tipping point? What must regulators do to bridge the gap?
Skyline of the Lujiazui financial district in Shanghai, December 2019. Shanghai aims to become an international financial centre. (Hector Retamal/AFP)

Is Shanghai on track to becoming an international financial centre in 2020?

Zhang Yugui, dean of the School of Economics and Finance at the Shanghai International Studies University, weighs up Shanghai’s chances of becoming an international financial centre that can vie with leading cities such as New York and London. While he is certain that Covid-19 will not affect Shanghai's progression towards its goal, he feels there is no need for Shanghai to be overly fixated on letting the world know that it has become an international financial centre by a certain date.