Question
Consider the following statements regarding the
financial center of Shanghai: 1) Shanghai is the largest city in China and the economic hub of the country. 2) Shanghai is a popular location for foreign banks and financial institutions due to its favorable business environment. Which of the statements given above is/are correct?Solution
Shanghai is the largest city in China and an important center of finance, trade, and commerce. It is the economic hub of the country and the financial center of China. Many foreign banks and financial institutions have set up operations in Shanghai due to its favorable business environment. Therefore, both statements 1 and 2 are correct.
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