Reforms & Innovation within China’s Financial Sector Reviewed by China's Economy & Policy-Gateway International Group24 Sep 2012 • by Natalie Aster
Financial Reform and Innovation in China. The fifth plenary session of the 17th CPC Central Committee proposed deepening the reform of the financial system. The blueprint for the national 12th Five-Year Plan reform of the financial system provides the direction for the financial industry’s efforts. Predictably, in the 12th Five-Year Plan period, the financial industry will accelerate the reforms so as to better meet the needs of economic and social development. This report attempts to analyze the future approach for financial development and innovation.
Financial Reform and Innovation in Qianhai District of Shenzhen. The most important local financial reform taking place in China in the recent period is the innovation policy in Qianhai District of Shenzhen. This includes exploring new channels to expand the volume of offshore RMB coming onshore, supporting the establishment of a “fund of funds” for Qianhai equity investments and for issuing RMB-denominated loans for overseas projects by banks in Qianhai, and exploring ways to facilitate the construction of new transaction platforms and to issue RMB-denominated bonds in the Hong Kong market. Financial innovation in Qianhai will have extraordinary significance for financial reforms in Guangdong Province and across the country.
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