Core Insights - The Shanghai International Financial Center (SIIFC) International City Index was officially released, ranking Shanghai second overall, just behind New York [1] - Shanghai's financial system construction ranked first in 2024, surpassing New York, due to a comprehensive financial market covering various sectors [1] - Shanghai's financial internationalization ranked fifth among the five cities, indicating significant room for improvement [1] Financial System Construction - Shanghai's financial market includes stocks, bonds, currencies, foreign exchange, gold, futures, insurance, bills, and carbon markets, contributing to its top ranking [1] - The city has developed a robust financial infrastructure, including registration, custody, settlement, and clearing services [1] Financial Internationalization - Shanghai's internationalization is hindered by low participation from foreign investors and a domestic focus among issuers and investors, leading to a lack of pricing power [1] - The offshore financial market is underdeveloped, with insufficient product offerings and inadequate support for green finance internationalization [1] Financial Services to the Real Economy - Shanghai leads London, Singapore, and Tokyo in supporting the real economy through capital market financing, but the gap with New York has widened due to a slowdown in IPO activity [2] Financial Regulation and Risk Prevention - Shanghai has made significant progress in financial regulation and risk prevention, maintaining a top-two ranking, while New York leads due to its capital market resilience [2] Financial Talent and Business Environment - Shanghai ranks fourth in financial talent and business environment, ahead of Tokyo but behind New York, London, and Singapore, indicating a need for more diverse talent and richer application scenarios [2] Development Model of Shanghai's Financial Center - Shanghai's financial center development model differs from traditional models, aiming to establish a comprehensive financial center that supports domestic and international dual circulation and real economy development [2][3] - The evaluation system for Shanghai's financial center should align with national and international standards while reflecting its unique positioning [3]