The Development Of Offshore Financial Market In China

With the further development of China's opening-up and the economic globalization, offshore finance should be brought into theoretical and practical consideration of Chinese financial circle in view of realizing financial integration. What we should do when we are facing the new trend of offshore finance market that tax heavens have been suffering from declination while functional centre are gaining their popularity among investors, is the question we have to consider when we are establishing our own offshore financial centers. The author argued that offshore financial market is the international financial market in real sense after describing the history of offshore financial market, analyzing the reasons for its emergence and development and its future development. In the Tenth Five-year Plan of Shanghai municipal government, establishing an offshore financial market has been put forward as a government proposal for the very first time. This shows that the central government has considered that we are qualified to establish an offshore financial market, and realized its significance in accelerating economic development and opening-up. In the final part, this paper analyzed the feasibility of establishing a off-shore financial market in China and provided some suggestions on the market model, regulation, business scope, accounting, favorable policies in this regard.