Lujiazui area in Pudong, Shanghai. [Photo by Yin Gang/Xinhua]

For Xu Zhen, president of the Global Association of Central Counterparties, 2020 will be another busy year.

Xu will continue to lead a team of the world's leading trade associations in the development of a white paper on international finance, which will be published in international financial centers such as Shanghai, London and Chicago.

The Global Association of Central Counterparties is an international financial association established by global central counterparties, and is the first such international association to be located in China.

"This year, we plan to recruit three more high-end talents from the international financial market to Shanghai," said Xu.

At present, more than 40 foreign-related social organizations have been registered in Shanghai, covering economy, finance, shipping, education, sports and other fields.

These organizations are acting as professional platforms and bridges to help Shanghai accelerate the upgrading of its urban level and core competitiveness, and comprehensively promote the modernization of its governance.

In recent years, Shanghai has become an ideal location for more and more international organizations.

To measure the internationalization and international competitiveness of a city, international social organizations are an important indicator, in addition to the number of headquarters and financial institutions of multinational companies, according to Jiang Rui, deputy director of Shanghai Civil Affairs Bureau.

Officials of some international organizations have said that Shanghai's urban infrastructure, economic influence, government management capacity and cultural environment are all favorable conditions for attracting international organizations to settle there.

Since its establishment and operation in Shanghai, the Global Association of Central Counterparties has attracted 37 members from major economies around the world, with a daily clearing volume exceeding $10 trillion.

It has become an important partner of international regulatory organizations and agencies such as the Financial Stability Board, the Bank for International Settlements, and the International Organization of Securities Commissions.