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    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?
    A 1 only Correct Answer Incorrect Answer
    B 2 only Correct Answer Incorrect Answer
    C Both 1 and 2 Correct Answer Incorrect Answer
    D Only 1 is partially correct. Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    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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