Development Path Of International Offshore Financial Centers Enlighten For Tianjin

The offshore financial sector is one of the important innovation in thedevelopment of modern international financial industry. Beginning in the1950s,offshore financial centers and offshore financial businesses improved at an alarmingrate. Not only doubled the volume of business, the carriers were gradually from theEuro-Dollar to the Euro-Mark, Euro-Franc, Euro-Pound, Asian-Dollar, and so on.At present, in the world’s major offshore financial centers are concentration of wealthand transaction, and cross-border assets are more than10trillion U.S. dollars. Bymore than half a century of development, offshore-onshore financial centers areincreasingly close. Governments and international economic organizations arematuring for risk monitoring and financial crime prevention better.The offshore centers attract global investors and capital with its lower transactioncosts and better fluidity. They play a larger role in promoting the local economic. It’svery meaningful to financial liberalization and participating in international economicexchange in developing countries. According to the development path of typicaloffshore financial centers, this article grouped the development path into threecategories based on the real economy: the type of relying on the real economy, thetype of semi-relying real economy and the type of non-real economy. After horizontalcontrasting important factors affecting the typical offshore financial centers, such asgeographic conditions, tax policy, legal system, it’s revealed that the offshorefinancial centers’ formation and development are closely related to geographiclocation, economic environment, policy support, facilities and intellectual support.Followed by the analysis of the necessity and feasibility of Tianjin offshore financialcenter construction, this article raised policy recommendations. It’s necessary todedicate “offshore area” with strict internal-and-external separation mode, thengradually attempt to separation into penetration mode in the Binhai New Area.Meanwhile, it’s high time to strengthen the organization to security the formulationand implementation of policies.