The other is that fiscal rules are occasionally perceived as a barrier to greater economic growth in Europe. It is easier to get across the message that monetary union requires institutional changes in monetary policy. Monetary union led to the creation of a new institution in Europe, the European Central Bank.
The development as international financial center is an important mission that the Party Central Committee and State Council has entrusted to Shanghai, based on the overall arrangements of China’s reform, opening-up and modernization.