Shanghai Securities News China Securities Network News (Reporter Fan Zimeng) On June 8, Ge Haijiao, chairman of the Bank of China, said at the 14th Lujiazui Forum "Plenary Session II: Functional Improvement of Pilot Free Trade Zone and High-level Financial Reform and Opening-up", In the next step, the development of the Shanghai Free Trade Zone can be promoted from three aspects: promoting the free flow of goods and factors across borders, improving the facilitation level of cross-border financing, and innovating new ways of free data flow.

　　First of all, continue to promote the free flow of goods and factors across the border, and help Shanghai play a greater role in the international industrial development and cooperation pattern. Ge Haijiao believes that in the future, it is possible to further optimize the trade and investment management model, vigorously develop the headquarters economy, make good use of high-level open platforms such as the China International import Expo, enhance the attractiveness of the Shanghai Free Trade Zone to international resource elements, and vigorously support new formats and models of foreign trade. Strategic emerging industries, high-tech enterprises and technological innovation enterprises create a more efficient and convenient cross-border business environment, and consolidate and strengthen the advantages of local industries.

　　Secondly, improve the facilitation level of cross-border financing of funds, and help build a new pattern of mutual promotion of domestic and international dual cycles. Ge Haijiao believes that in the future, the construction of an international financial asset trading platform can be used as an opportunity to strengthen the interaction between Shanghai and other domestic and foreign investment and financing markets, gradually introduce more interconnection mechanisms, actively meet the investment and financing needs of the "Belt and Road" initiative, and promote RMB cross-border The use of the payment system system will expand the scope of commodities and transactions denominated in RMB, explore the establishment of RMB domestic and offshore trading markets, and reduce cross-border economic and trade business costs and financial risks.

　　Furthermore, innovate new ways of free data flow and improve the supervision mechanism of cross-border data flow. Ge Haijiao said that the Shanghai Free Trade Zone can give full play to the advantages of institutional innovation and pioneering trials, improve the rules of data supervision, and improve the efficiency of data governance. The first is to conduct in-depth research on high-level digital economy rules such as digital economy partnership agreements, and further improve the rules for cross-border data flow in free trade zones. The second is to explore the establishment of an efficient and safe data direct-through mechanism in overseas regions closely related to economic and trade, establish a whitelist mechanism for data export identification, and drive the radiation and traction of the Shanghai Free Trade Zone to the cross-border industrial chain with the rational flow of data. The third is to improve the data security management framework. On the basis of Shanghai's existing data classification and grading system, improve the data export management mechanism, explore the establishment of a negative list for cross-border data flow, and set up a safety net for data export.