Research On The Legal System Of Free Trade Account In China's Free Trade Area

As an important part of China's financial reform and innovation,Free Trade Area(FTA)involves many aspects.Free trade account,as a new type of convertible account with unified local and foreign currency rules,is the basis of financial reform in FTA.The practice of free trade account can promote the further opening of China's capital market,and will strongly promote the realization of full convertibility of China's capital account.This paper focuses on the legal issues in the practice and promotion of free trade account in China's FTA.Based on the analysis of the research background and value of the establishment of free trade account,this paper studies the relationship between free trade account and convertibility of capital account.Capital account convertibility is an important part of China's opening up.In the case that capital account has not yet been fully convertible,FTA has become a test field for capital account convertibility in China.In this experimental field,the convertibility of capital account is carried out through free trade account,which realizes the free exchange of domestic and foreign currencies in the account.In the legal basis and practice of free trade account innovation,there are some problems in the promotion of free trade account,such as too general legal provisions,low legislative level,not enough good of free trade account and incomplete function of free trade account.Therefore,in view of these problems,this paper proposes legal countermeasures to promote the development of free trade account and promote the convertibility reform of capital account in China from the perspective of refining existing legal provisions,improving the legislative level,improving the supervision of free trade account and expanding the function of free trade account.