Shanghai is set to become a global yuan trade centre by 2015, with its financial market transactions almost tripling to CNY1,000 trillion (USD158 trillion), city authorities said on Monday as a detailed plan for the future international financial centre was revealed.

The plan, published by the National Development and Reform Commission, China's top economic planning agency, and the Shanghai government, shows the scale of the country's ambition in creating its own version of New York or London.

It envisages Shanghai becoming a leading international financial hub and global centre for yuan trading, clearing and pricing by 2015.