Financial Services Trade Liberalization

The accelerating development of the liberalization of trade in financial services has been an important character for development of global economy and finance since 1970s. The liberalization of trade in financial services has accelerated the flow of global capital, improved the collocating efficiency of capital resource, enhanced the competition and cooperation of global financial services, and consequently has brought great active effects to the increase of economy and development of world trade. However, when the liberalization of trade in financial services brought benefits to the world especially to most developing countries, it also brought tremendous impingement to the stabilization and safety of their finance and economy. Facing the billowy wave of global liberalization of trade in financial services, we must have clear comprehension of it and make systemic study in theory and deep consideration in practice.This thesis is composed of four chapters that study the liberalization of trade in financial services and the opening of Chinese banking. As the effects of the liberalization of trade in financial services for economy are various, the first chapter analyzes theoretically the economics effects of the liberalization of trade in financial services from both positive and negative aspects. The second chapter compares the liberalization of trade in finance services in different countries. Taking America, Japan, Korea and Indonesia as examples, it introduces respectively the course and character of the liberalization of trade in financial services in developed countries and developing countries, analyzes and summarizes seriously their experience and lessons from which we get important revelation. The purpose of studying liberalization of trade in financial services is to discuss the opening of Chinese banking in wider visual field. At present, the total develop level and international competitive ability of Chinese banking are still quite low. Chinese banking has great distance comparing with foreign capital banking. It requires Chinese banking enlarge opening and accelerate reform and internationalization course for the acceptance ofentering WTO and the inburst of large numbers of foreign banks. It has crucial significance for persistent development of Chinese banking that we should be with a view to the future in the basis of fact, study actively the relationship between the liberalization of trade in financial services and Chinese banking, understand exactly the actuality and the austere position of Chinese banking, estimate objectively the international competitive ability, find out the difference and establish reasonable countermeasure according with Chinese situation. Therefore the third chapter and the forth chapter discuss the opening of Chinese banking on the basis of analysis systematically and study of the liberalization of trade in financial services in the former chapters. The third chapter discusses mainly the opportunities and challenges that the liberalization of trade in financial services brings. The forth chapter analyzes the total competitive ability of Chinese banking and bring forward the competitive stratagem which Chinese banking should adopt in its opening.The thesis, combining methodology of theoretic analysis and case study, systematic and comparative analysis, examines systematically the opening of Chinese banking basing on the former study production. It analyzes and demonstrates the economic effects of liberalization of trade in financial services, compares and summarizes the international experience of liberalization of trade in financial services, combines the theory of liberalization of trade in financial services and the practice of Chinese banking's opening, and brings forward competitive stratagem for increasing international competitive ability of Chinese banking. These are the innovations of this thesis.