Research On The Finance Opening And Its Impact Of Shanghai Free Trade Zone

After the financial crisis, trade protectionism gradually rise, making the world began to establish free trade area as a new way of development of overseas trade. On September 29,2013, China (Shanghai) free trade zone (hereinafter referred to as Shanghai free trade zone) was formally established, breakthrough significance to the development of China’s foreign trade. Shanghai free trade zone was established through the innovation of the financial sector is the biggest purpose test to support the development of the real economy and investment and trade facilitation, and form can be copied, can promote the management mode, to play the positive role of demonstration, service in driving the national.This article will research on the current situation of financial opening in Shanghai free trade zone, analysis within the free trade area financial open financial development in the city of Shanghai, trade growth and the promoting role of RMB internationalization, and summarizes the possible to the impact of China’s financial market stability and harm. At the same time, this article also combined with the New York port free trade zone, Hong Kong free trade, free trade area of Thailand and Singapore free trade area within the experience of the open financial guide, it is concluded that the free trade zone in Shanghai open should choose to gradual financial model, and according to the interest rate marketization, let go of exchange controls, realizes the Chinese currency renminbi became freely convertible under the capital account, financial openness to establish the order of the offshore financial market.In this paper, the use of between 2009 and 2014, the Shanghai industrial production, import and export trade, foreign direct investment and foreign currency deposit balances monthly data, through the establishment of the VAR model of financial openness in Shanghai city for the development of the economy and trade growth of the impulse response analysis. Think under certain significant level, the development of economic trade and financial openness exist correlation, and foreign currency lending and deposit balance affects the economic development and the change of foreign, foreign direct investment affect the change of foreign trade. Finally, this paper put forward some policy Suggestions, hoping to be able to provide experience within the free trade zone of Shanghai financial open support and reference significance.