The Research Of The China-ASEAN Free Trade Area Of Financial Cooperation

Under the backdrop of economic globalization, the relevance of financial systems continues to strengthen, and financial globalization arises spontaneously as derivatives of economic globalization, but also its inevitable outcome. Financial globalization, just like economic globalization, functions as double-edged sword in the economic development, meanwhile able to influence international political and economic relations. China as Asia’s first largest economy, the development of its financial sector is lagging behind. Within context of financial globalization China, together with ASEAN countries, faces unprecedented financial risk and security pressures. Prevention and maintenance of the regional financial security and stability, active participation in regional financial cooperation and defusing financial risks are the direction of co-operation between China and ASEAN countries.The1997Southeast Asian financial crisis and2008U.S. sub-prime crisis lead Asian countries and the world to greatly increase awareness of the importance of regional financial cooperation, and inter-regional financial cooperation escalated. Since the signing of Chiang Mai Agreement, China and ASEAN countries have made a series of results:regional financial cooperation expanded; level of cooperation escalated; RMB cross-border trade settlement expanded; RMB regionalization and even internationalization increasingly clarified; and building of Asian bond market being put on agenda;"Asian Zone" also arousing the attention of Asian countries. This article focuses on describing contents and meaning of regional financial cooperation, and also the status and problems in regional financial cooperation between China and ASEAN countries, with the aim to put forward views upon regional financial cooperation.Paper is divided into eight chapters. The first chapter is an introduction, mainly the research background/meaning/aims/methods of this study. The second chapter is literature review, mainly on the development status of regional financial cooperation and EU regional financial cooperation and China-ASEAN Free Trade Area. The third chapter is a brief description of regional financial cooperation from aspects of financial cooperation meaning/regional financial cooperation/dynamic analysis and the goal of regional financial cooperation. The fourth chapter involves financial development and cooperation of China-ASEAN Free Trade Area, mainly from the aspect of financial market development status and regional financial cooperation mechanism. The fifth chapter is mainly to analyze the financial cooperation problems of China-ASEAN Free Trade Area. The sixth chapter is to analyze needs for regional financial cooperation between China and ASEAN countries, as well as favorable conditions. The last chapter is designed to put forward relevant policy recommendations to promote the financial cooperation of China and ASEAN Free Trade Area.The2008financial crisis swept across the world, spreading from developed countries to developing regions, and real economy has suffered heavy losses. If the1997Asian financial crisis prompted the initiation of financial cooperation awareness of Asian countries, then financial crisis of new century is making countries, China and ASEAN countries in particular, become aware of the regional financial cooperation to guard against financial risks and enhance financial security. It is desperately needed to enhance regional financial cooperation.