Research on the Path and Strategies for the Development of Offshore RMB Financial Services in the Shanghai Free Trade Zone
At present,the development of offshore finance in the Shanghai Free Trade Pilot Zone(FTZ)is a significant part of the strategy to enhance the FTZ and represents a new exploration in actively pursuing a high level of financial openness.With the substantial increase in the global attractiveness of the renminbi(RMB)assets,ac-celerating the cultivation of the domestic RMB offshore market can not only provide RMB financial services to the world,enhance the capacity for RMB asset allocation,and promote the internationalization of the renminbi,but it is also beneficial for China to respond to changes in the external environment,promote the development of new types of international trade,and strengthen the resilience of an open economy.Through research,it has been found that there are quite a few issues in promoting the development of the offshore financial market in the FTZ.These mainly include:there are still deviations in cognition and insufficient impetus for institutional innovation;Offshore system construction lags behind,and the legal environment needs to be improved;Offshore financial advantages lack,and financial services ability is not strong.Therefore,this paper puts forward specific suggestions from the perspectives of overall design of offshore financial system,construction of offshore legal environment,development of offshore RMB business and enhancement of offshore financial services.
Free Trade ZoneA High Level of Financial OpennessOffshore FinanceOffshore RMB Finan-cial Services
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