Steadily advancing the high-level opening up of the financial industry is an inherent requirement for high-quality economic development and an urgent need for the development of the financial industry itself. Since 2013 , the Shanghai Free Trade Zone and the Lingang New Area of the Free Trade Zone have been successively established. Over the past 10 years, Shanghai has taken the lead in deepening financial reform and expanding financial opening-up, carried out a series of active explorations, and formed a batch of "Shanghai experience" that can be replicated and promoted.
Next, how to further enhance the functions of the free trade zone and promote high-level financial reform and opening up? How to handle the relationship between financial opening and risk prevention? At the second plenary session of the Lujiazui Forum, the guests discussed this.
Shanghai Free Trade Zone Financial Opening Highlights Four Aspects
Zhou Xiaochuan, vice chairman of the Boao Forum for Asia and chief representative of the Chinese side, believes that in order to further expand the construction of Shanghai as an international financial center, the focus may still be on the main products of the capital market, such as stocks, bonds, foreign exchange, credit, and payment. A greater degree of market opening in terms of other aspects requires a significant increase in the degree of free use of the renminbi, an increase in the level of renminbi convertibility, and further reform of the foreign exchange management system.
