Lujiazui, Shanghai's financial hub, is home to a many financial institutions. [Photo provided to chinadaily.com.cn]

The forum comes as a result of enhanced China-UK financial relations. Lujiazui was chosen as the host venue is due to the area's status as Shanghai's financial hub and its increasingly significant role in fastening China-UK financial ties.

In August, Lujiazui introduced reforms to its management mechanism by establishing a management board, which allows various forces to participate in the governance of the area's financial sector. The move aims to help Lujiazui better align itself with international regulations and standards.

The financial city also plans to work together with the UK to build platforms for the two countries' financial supervision institutions, international industry organizations, financial institutions, and financial technology companies, to exchange ideas and seek cooperative opportunities.