Research On Rules For Harmonization Of Trade Liberalization And Regulation In Financial Services In Regional Trade Agreements

The opening up of financial services markets has injected fresh blood into the world economy by enhancing the competitiveness of national markets,optimizing the structure of financial services products and the management system of financial companies,and accelerating the flow of financial information.However,the global financial crisis triggered by the US sub-prime mortgage crisis in 2008 has made countries around the world re-examine the pros and cons of financial services liberalization,and the economic recession it triggered has made it necessary for countries to consider the institutional flaws of the global financial system.In this context,how to achieve a balance between financial services liberalization and financial security has become a core issue in the negotiations on international trade in services.The current multilateral rules on financial services have failed to cope with the development trend of remote and electronic financial services,the importance of rules related to regional trade agreements has been highlighted,and the system of rules on international trade in financial services has been gradually formed and improved.This thesis provides a systematic study of financial services rules in a regional context,providing an empirical examination of potential rule-making patterns and spillover effects in financial services,and searching for the common goal of liberalization rules and regulatory rules-that is,reconciling financial services trade liberalization with financial security.Adopting research methods such as normative analysis,comparative analysis,historical research and textual data analysis,this thesis examines the issue of rules for the harmonization of financial services liberalization and regulation in regional trade agreements through the lens of theoretical analysis.In addition to the introduction and epilogue,this paper consists of the following six parts.The first part,"The Basic Theory of the harmonization of Liberalization and Regulation of International Financial Services Trade",studied the relevant concepts and theoretical basis of international financial services trade,sorted out the evolution of international rules for financial services trade,and put forward the view that liberalization rules and regulatory rules have the common purpose of pursuing market opening and maintaining financial security.The second part,"Objectives of Harmonization Rules for Liberalization and Regulation of Trade in Financial Services in Regional Trade Agreements",studied the macro and micro objectives of coordinating liberalization and regulatory rules,and pointed out that the goal of achieving the coordinated development of financial security and market freedom cannot be achieved simply by relaxing or strengthening one-way measures,and requires a high degree of cooperation between the two types of measures.The third part,"Specific content of harmonization rules for liberalization and regulation of trade in financial services in regional trade agreements",Studied the two specific contents of coordinating liberalization and regulatory rules according to the second part of the demonstration of the coordination goal,namely "the harmonization of deepening liberalization and financial security" and "the harmonization of the rights and interests of foreign financial service providers and the financial regulation rights of the host country",and pointed out the specific manifestations of the two in the international rules of financial services.The forth part,"Specific Rules for Harmonizing Financial Services Trade Liberalization and Regulation in Regional Trade Agreements",analyzed the provisions and application of specific rules in typical RTAs that reflect the interest in balancing financial services trade liberalization and financial security,reviewed the evolution of the rules,and identified the concrete expression of the multiple values pursued by the rules.It also identifies the specific forms of the multiple value pursuits of each rule.The fifth part,"Exploring the Textual Paradigm of the Financial Services Chapter of RCEP and Suggestions for Upgrading Relevant Provisions in China",analyzed the textual similarity of the financial services rules of RCEP,assessed its textual formation logic and China’s influence.The analysis of the textual similarity of RCEP financial services rules,the assessment of its textual formation logic and China’s influence,the analysis of the financial services rules set in high-level regional trade agreements and the inspiration for optimizing the corresponding rules in China’s future agreements,and the suggestions for upgrading from the rational application of the negative list,the optimization of the legal regulation of cross-border financial data flows and the coordination between the financial chapter and investment and trade in services after the independent chapter.The recommendations for upgrading in three aspects.The sixth part,"Conclusion",summarized the main conclusions of this paper,namely: 1.Typical financial service regional rules show a "spillover effect",which has an impact on the formation of the final text of financial service rules;2.Although financial service liberalization Rules and regulations play the functions of opening up and restricting the market respectively,but both have the common purpose of pursuing the liberalization of trade in financial services and financial security;3.In order to enhance China’s right to speak in the negotiation of financial rules,relevant departments should upgrade the relevant rules in economic and trade agreements and further deepen the reform of the financial system.