Reforms to create global financial hub 'approved'

SHENZHEN: Plans to make Shenzhen a global hub for finance, logistics, trade, innovation and cultural creativity have been given the green light, a media report suggested yesterday.

Comprehensive reform plans submitted by the Shenzhen government to the National Development and Reform Commission (NDRC) were approved by the State Council on Wednesday, Guangzhou-based 21st Century Business Herald said.

Quoting anonymous sources yesterday, it reported the Cabinet would give Shenzhen priority in carrying out the reforms as long as conditions in the city were suitable.