Reforms to fuel Shanghai's growth in 2014

Free trade zone, new talent helping city become global economic hub

Shanghai's financial sector grew 13.7 percent last year, a significant boost for China's biggest municipal economy as it strives to become a global financial center by 2020.

The Shanghai Bureau of Statistics said on Sunday that the city's financial sector generated 282.3 billion yuan ($46.66 billion) in revenue in 2013. The 13.7-percent growth is 1.1 percent higher than the sector's growth rate in 2012.