New Chinese Financial Field Research Reports by China's Economy & Policy-Gateway International Group25 Sep 2012 • by Natalie Aster
Analysis of China’s Offshore Financial Market Development. In recent years, the development of offshore financial markets has been attracting attention; but different from the topic of an offshore RMB market, this is about innovations in the domestic offshore market. Major international financial centers are often offshore financial centers. By guaranteeing effective risk control and strengthening market regulation, China is giving priority to promoting the construction of domestic offshore markets in the process of economic and financial internationalization.
Building New Regional Financial Service Centers in China. Building financial centers has become a hot topic in China. In addition to the national strategy of developing Shanghai as an international financial center, many local governments have proposed constructing various types of regional financial centers. Although China’s economy continues to expand, building a number of regional financial centers at the same time is clearly unrealistic. In addition to analyzing different types of financial centers, this article proposes that the development focus should be on the construction of regional financial service centers which can support the real economy.
Direct Financing and Capital Market Reform in China. Direct financing is a core concern of policy authorities and academia in China and is also regarded as a focus for optimizing the country’s financial structure. Over the years, the expansion of direct financing has often been closely linked with the capital market, but because there are many conflicts and errors, this reform has always been delayed.
Further Thoughts on RMB Exchange Rate Reform. The issue of the RMB exchange rate continues to cause widespread concern at home and abroad. Since the second half of last year, the two-way volatility of the RMB exchange rate against the U.S. dollar has aroused heated discussions. The expectation that the RMB will appreciate unilaterally has vanished; meanwhile, some people have been worried that the devaluation of the RMB will affect the process of internationalization. This paper argues that this situation provides more motivation and freedom for further reforms of the RMB exchange rate mechanism.
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