国际英语新闻：New Zealand considers setting up financial hub

WELLINGTON, Feb. 15 (Xinhua) -- The New Zealand government was exploring setting up an international financial hub in New Zealand to administer overseas pension funds.

The idea was recommended in the Capital Markets Taskforce report last month, but Prime Minister John Key said Sunday it was being pursued and was in the planning stages, The New Zealand Herald reported on Monday.

Such an initiative would see overseas funds registered in and administered from New Zealand, potentially creating thousands of jobs and an economic boost.

Key said Ireland had successfully gone down a similar path in the past.

The taskforce gave detail about how the proposal could be implemented directly to Key and recommended a financial center be overseen by the Department of the Prime Minister and Cabinet.

Key said some "technical changes" might be required, but the idea was being progressed and the next step was to look at how such a center would be structured.