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Along with the slow opening of the Chinese economy, the traditional financial centres of the Chinese East coast will start to lose ground. One of the most promising rising stars is Chongching, a city of 33 million inhabitants located in the Midwestern region of China. According to Amy Y. Zhuang, senior analyst in Nordea Markets' global research team at their Copenhagen office, Chongching is not only in the focus of the Chinese government, but also of local manufacturers.
“All the companies I met with during my China trip have either already moved their production west to Chongching or are seriously considering doing so. Chongching is going to be the next Shanghai.” As a result, the city will also establish a financial centre. “In terms of financial development it will...
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