The Reuters article "In IPO Capital of the World, Western Banks Go Hungry," highlights Shenzen's meteoric rise in the rankings for initial public offerings. While Shenzhen's IPO market is currently a local market for local participants, this may change as China is planning to spend $45 billion to create a financial hub in Shenzhen. According to the article, this is part of a drive to internationalize the yuan, deepen ties with Hong Kong and establish a financial market on par with New York or London. Here's the link: http://www.reuters.com/article/2012/07/02/us-china-shenzhen-ipos-idUSBRE86108U20120702
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