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China's credit expansion is expected to remain healthy in the fourth quarter after rebounding stronger than expected last month, setting the stage for a steady economic recovery, experts said on Wednesday.

The renminbi internationalization composite index — a gauge created by the central bank to describe the extent to which a currency is internationalized — rose to 2.86 in the first quarter of the year, up 14 percent year-on-year, the report said.

The city's GDP increased from 2.13 trillion yuan in 2012 to 4.32 trillion yuan in 2021, and its GDP per capita rose from 14,200 dollars to 26,900 dollars, said Gong Zheng, mayor of Shanghai.

The PBOC said that the renewal would help deepen bilateral financial cooperation, facilitate trade and investment, and maintain the stability of the financial market.

Under "one country, two systems", which is a universally recognized success, Hong Kong is able to maintain its capitalist system while enjoying unique advantages in doing business.