Research On The Supervision System Of Free Trade Zone's Offshore Banks From The Perspective Of The Construction Of International Finance Center

Finance is the core of modern economy.Shanghai has succeeded in building a major national strategic goal of becoming an international financial center that is compatible with China's economic strength and the international status of the RMB.In order to promote the construction of the Shanghai International Financial Center,the State Council formally approved the establishment of the China(Shanghai)Pilot Free Trade Zone in2013 to pilot financial system reform and innovation.One of the main links of international financial activities is offshore financial activities,and offshore banking is the prerequisite and basis for offshore financial activities.China chose Shenzhen as a pilot area in 1989.Since the establishment of the Shanghai Free Trade Zone,in conjunction with the construction of the Shanghai International Financial Center,the Free Trade Zone,Pudong and even Shanghai have gradually developed into the most active offshore banking areas in the Mainland.The development of the offshore banking market and business is not only a demonstration of the improvement of the financial service level of the Shanghai International Financial Center,it is also of great benefit to China in introducing foreign investment,promoting foreign exchange development,and the overall layout of the RMB internationalization strategy.Financial risk and return are opposite and unified.In addition to the systemic risks inherent in financial markets,due to offshore banking activities' special attributes such as offshore and international,It will also inevitably cause many special risks to the onshore market of the host country,including but not limited to exchange rate and interest rate risks,legal risks,and other special risks.In order to prevent and deal with these risks as effectively as possible,a perfect supervision mechanism is one of the essential elements of the offshore banking market.Looking at the current legal system of China's offshore banking market supervision,there are still several significant deficiencies,specific manifestations are in the gaps and lags of related systems,the lack of market access and exit mechanisms,the imperfection of risk mechanisms,the confusion of regulatory bodies,and the lack of international exchanges.In view of this,the research on the establishment and improvement of China's offshore banking market supervision system is urgent and urgently needed,and has profound practical significance.This article first summarizes the status quo of the construction of the Shanghai International Financial Center and the development of offshore banks,and then analyzes the principles and necessity of offshore banking supervision.Then it sorts out the currentstatus of the legal system of the offshore banking market in the free trade zone and looks directly at it.Its shortcomings and vacancies have since been adopted and learned from international mature offshore market supervision experience,and combined with the development opportunities of China's current "RMB internationalization" and "Belt Road" construction model,and then summarize a series of issues of the current China's offshore banking market that the regulator needs to address,such as the selection of regulatory models,the improvement of access and exit mechanisms,etc.,finally help in further exploring the offshore banking supervision model suitable for the construction and development of the Shanghai International Financial Center,with a view to putting forward constructive countermeasures to the improvement and perfection of China's offshore banking market supervision system,and then help the construction and development of the Shanghai International Financial Center.