Study Of Offshore Financial In Free Trade Zone(Shanghai) And The Internationalization Of RMB

The advantages of the offshore financial industry have gradually emerged during the development of financial freedom and internationalization this year.As a major innovation in the financial industry,offshore finance is not only of great importance to global finance and trade between countries.It also plays a pivotal role in the global real economy.Judging from the current international currency situation,the US dollar will still be the major international settlement currency for a long time,which will help the United States to control the entire world structure from the perspective of finance.With the leap-forward development of the Chinese economy in recent years,the renminbi also hopes to have its own place in the international currency market.However,with the increasing influence of the renminbi on the international level,how to achieve the convertibility of the renminbi's capital account has become a huge obstacle to the renminbi becoming an international currency.Under the current international financial situation,the United States continues to interfere in the internationalization of the renminbi.How to attempt the development of offshore finance in the current form has become a way to overcome the obstacles of the US dollar.The Shanghai Free Trade Zone was formally established in 2013.The main role of the free trade zone is to explore free trade reform and promote the internationalization of the renminbi.The study of offshore financial construction in the Free Trade Zone is of great significance to the advancement of the RMB internationalization.This thesis has studied the relationship be ween the establishment of offshore finance in the FTA and the promotion of RMB internationalization.First,the study reviewed the literature on currency internationalization and offshore finance,and reviewed the offshore financial market and currency internationalization.Related theory.On this basis,this study sorts out the current status of the development of RMB internationalization and the trend of RMB internationalization.The study then collated the international experience of the internationalization of the two major international currencies:the US dollar and the Japanese yen,and verified the construction of a country's offshore financial market and the internationalization of the national currency through quantitative analysis.With a strong connection,the construction of offshore financial markets can greatly promote the internationalization of domestic currency.Subsequently,this study focused on the analysis of offshore financial construction and current problems in China's Shanghai Free Trade Zone.Based on the analysis of the issues,this study proposes the proposal for offshore financial construction in the Free Trade Zone.This thesis believes that for the development of offshore finance in the Shanghai Free Trade Zone,we should focus on the following four aspects:First,we must confirm the construction path of offshore finance in the free trade zone.Second,the government must change its functions,simplify the decentralization of government,and implement safety and efficiency.The administrative approval process,and the use of pre-acquisition national treatment and negative list approach to administrative management and administrative access.In the process of offshore financial development in the Free Trade Zone,the government should improve the corresponding laws and regulations,strengthen the construction and implementation of anti-money laundering laws,and establish a legal system of foreign exchange transactions characterized by a "negative list." And the government should focus on strengthening financial supervision,establishing a pre-and post-event supervision system,building a banking-themed regulatory framework,and improving the market access system.