Call it the sincerest form of rivalry: shortly after declaring Shanghai would challenge New York as a global financial centre by 2020, the city bought its own copy of the Charging Bull of Wall Street, and installed it on the Bund.
The “Bund Financial Bull” was created by the original sculptor and weighs the same as his New York sibling, but is a bit redder in colour.
But it will take more than a few thousand pounds of bull to make Shanghai’s dreams come true: China’s markets are among the largest in the world, but are also among the most immature, opaque and inaccessible to foreign investors.
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