Thursday, The McGraw-Hill Companies (MHP) announced that Standard & Poor's or S&P is planning to establish a Greater China headquarters in Shanghai, underscoring the company's commitment to supporting China's growing capital markets, as well as Shanghai's emergence as a leading global financial center. The company said it also intends to expand its existing teams in Hong Kong and Beijing to meet the growing needs of financial market participants in both internationally significant cities.
"As China's largest city and one of the world's leading financial centers, Shanghai has come to epitomize the country's exceptional growth and leadership position in the international economic community. Shanghai is establishing itself as a global center for capital and commerce, and we are excited about the new opportunities Standard & Poor's will have to help China continue to expand and strengthen its growing financial markets," said Harold McGraw III, chairman, president and chief executive officer of The McGraw-Hill Companies
Looking ahead, S&P also will look to draw on China's rich talent base to provide data and analytical support for S&P's businesses worldwide. Shanghai offers attractive outsourcing capabilities with a growing pool of multilingual financial professionals that can help S&P grow its regional and global businesses.
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