Shanghai showcases financial innovation, global vision at CMG event

China Media Group (CMG) on Friday hosted the "CMG Finance Powerhouse -- Shanghai Financial Night" event at Shanghai's Lingang New Area, spotlighting the mega-city's innovation-driven financial growth and its accelerated push to build itself into a world-class financial hub.

Guided by the strategic vision of the upcoming 15th Five-Year Plan for national socioeconomic development in the 2026-2030 period, the event focused on the construction of Shanghai as an international financial center, highlighting its achievements in high-quality development and exploring future trends and strategies for building a financially strong China.

The event is one of the key events under CMG's High-Quality Development Shanghai Project. It was co-hosted by CMG's Finance Program Center and its Shanghai bureau.

At the event, two major releases were unveiled, the "2025 Shanghai High-Quality Financial Development Annual Cases" and the "2025 China Sci-Tech Finance Index." The Shanghai Municipal Government also presented the 2023-2024 Shanghai Financial Innovation Awards to recognize outstanding contributions to financial reform and development.

"This event has provided an important platform to showcase the achievements in building Shanghai into an international financial center. It also offers a high-level dialogue forum for institutions to explore paths toward high-quality development, exchange innovative ideas, and collectively discuss the mission of our times," said Li Guodong, deputy general manager of Ping An Property and Casualty Insurance Shanghai.

At the event, distinguished guests, including Liu Yuanchun, president of Shanghai University of Finance and Economics, and Li Xunlei, chief economist at Zhongtai International Finance Co., provided in-depth analysis of the national and global economic climate and its relevance to China's financial development.

"As an international financial market, Shanghai needs to continue diversifying its financial product offerings and enhancing its global pricing power. Further efforts are needed to empower Shanghai's development as an international center for sci-tech innovation, shipping, and trade," Liu said.

The evening concluded with a symbolic lighting ceremony at the Dishui Lake Financial Bay in Lingang, underscoring Shanghai's ambitions to develop cutting-edge financial services and expand institutional opening up.

"Lingang is exploring the development of an offshore financial (economic) function zone, aiming to foster the clustered growth of financial institutions, factor markets and support infrastructure. It strives to take the lead in building Shanghai into an international financial center and to offer a 'Lingang solution' for driving high-quality financial development and enhancing global financial competitiveness during the 15th Five-Year Plan period (2026-2030)," said Lin He, deputy director of the Financial and Trade Department of the Lingang New Area Administrative Committee.

Shanghai showcases financial innovation, global vision at CMG event

Results of a recent poll released by research firm DataViva have showed an overwhelming consensus across all sectors of Venezuelan society in opposing U.S. military threats and asserting national sovereignty.

According to the survey, 90 percent of respondents opposed any potential U.S. military action against Venezuela, while 97 percent rejected U.S. President Donald Trump's claim that "Venezuela's oil and wealth belong to the United States." Additionally, 90 percent said they could not accept Venezuela being labeled a "foreign terrorist organization" by the U.S., and 92 percent opposed any proposed U.S. maritime blockade targeting the country.

On the bustling Bolivar Avenue in the capital city of Caracas, everyday citizens, from vendors to students and tourists, voiced their defiance against foreign intervention and their hope for peace.

"What the U.S. wants is to grab what doesn't belong to them. It's terrible. The situation is very serious," said Gerson Tello, a fruit vendor.

"The oil belongs to the people of Venezuela. It's our wealth. I completely disagree with the U.S. claims. Absolutely not. I think U.S. rhetoric is highly provocative," said Barbara Garcia, a university student.

"We long for a peaceful and tranquil life. We want the harmony we once had, and we will get it back," said Orlando Rincon, a local resident.

"As Venezuelans, all we truly seek is peace. We hope that everyone, including ourselves, can live in calm and safety," said Peggy Hinault, a tourism worker.

Since late August, the United States has ramped up military presence in the Caribbean off Venezuela's coast, alongside escalating sanctions, blockades and military threats against the oil-rich South American nation.

In a notable recent development, the White House has ordered the U.S. military to focus almost exclusively on enforcing a "quarantine" of Venezuelan oil for at least the next two months, according to a U.S. official.

Venezuelans say they are firmly united against U.S. military threats