Research On Building An Offshore Financial Center In Hainan

On April 13.2018.General Secretary Xi Jinping formally put forward the national strategy of building Hainan into a free trade port with Chinese characteristics.In June 2020.the Central Committee of the Communist Party of China and the State Council issued the General Plan for the Construction of Hainan Free Trade Port.and defined the development goal of Hainan Free Trade Port: to establish a free trade port policy system focusing on free trade and investment facilitation by 2025;to become a new highland of open economy in China;and to build a high-level free trade port with international influence by the middle of this century.At present.all the internationally renowned free trade ports have developed offshore financial industry system.forming an offshore financial center in a certain region.providing financial support for the characteristic industries of free trade ports such as offshore trade.international shipping and professional services.From this point of view.the construction of Hainan Free trade port is bound to build a strong offshore financial industry and form a new offshore financial center in the Asia-Pacific region.This paper mainly draws on the development experience of Chinese Hong Kong,Singapore and other international famous offshore financial centers.combined with the current development status of financial industry in Hainan.and conducts the research on the establishment of international offshore financial center in Hainan free trade port.The first part is the introduction.which mainly introduces the research background.research significance.research frontier and innovation and shortcomings.The second part is developed from the following two aspects: first explains the concept and classification of offshore financial center.and then discusses the theoretical basis of the development of offshore financial center.including the theory of institutional change.financial development theory.financial innovation theory and location selection theory.The third part introduces the development process of international offshore finance from the four stages of germination stage.growth stage.expansion stage and adjustment and recovery stage.and then analyzes the development trend of offshore finance according to the current situation of international finance.The fourth part first discusses the necessity of Hainan developing offshore financial center from the needs of building international free trade port and the needs of RMB internationalization at the national level.and then analyzes the favorable and unfavorable conditions of Hainan developing offshore financial center.The fifth part introduces the establishment process of Chinese Hong Kong,Singapore.London.New York.and so on.and summarizes the characteristics of the formation of these typical international offshore financial centers.The sixth part of Hainan empirical analysis of offshore financial development level.build the offshore financial center evaluation index system.using the entropy method and combined with Hainan 2010-2022.the Hainan offshore financial development level score and analysis.research found that Hainan macro economy and financial market for the development of offshore financial power.Seventh part put forward countermeasures for the development of Hainan offshore financial center.mainly includes the development model of Hainan offshore financial center.expand Hainan foreign trade and financial volume.develop the RMB offshore financial market.increase the intensity of financial open.improve the offshore financial industry system and supporting infrastructure.continue to optimize the business environment.establish efficient offshore financial supervision system.etc.