National Research Center: Shanghai FTA Financial Policy Details Should Not Be Rushed Out

< p > "in the policy design of the free trade area, we should maintain the authority and stability of the policy. Based on in-depth thinking and systematic design, we should mature and promote one."

On the 30 day at the briefing of the Shanghai free trade area held by the Information Office of the State Council, long Guoqiang made suggestions.

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< p > > a href= "http://sjfzxm.com/news/index_cj.as" > financial reform < /a > is a "highlight" of the Shanghai free trade zone. The general plan of the free trade area has been put forward for the financial system innovation: under the premise of controllable risks, it is possible to create conditions in the pilot area for the capital account convertibility of the people's capital, the marketization of the interest rate in the financial market, and the cross border use of RMB.

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< p > "12th Five-Year plan put forward the realization of RMB capital account convertibility, but this process can not be released at once."

Long Guoqiang pointed out.

There are more than 100 sub projects under the capital account, and all of them need a process.

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< p > Long Guoqiang introduced that the current international experience is that we should first realize the opening of long-term cross-border capital convertibility projects.

"At present, the negative list and the national treatment before admission are actually the liberalization of cross-border capital entry."

Long Guoqiang, for example.

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< p > previous analysis suggested that RMB capital account convertibility means free flow of capital in the overall scheme of the free trade area.

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After the financial crisis, the developed countries realized that large scale fast forward capital flows were not conducive to financial stability, and thus tightened the management of cross-border capital flows. "P"

Long Guoqiang introduced that he believed that the future FTA or a differentiated management policy would be implemented to avoid possible risks.

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< p > he also said that < a href= "http://sjfzxm.com/news/index_s.asp" > Shanghai free trade area < /a > shouldering the role of exploring the way for reform and development. It has very arduous task of system innovation. The test area may be repeated. It should be patient and tolerant, allowing mistakes.

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< p > on the issue that the outside world is too long on the negative list of the free trade area, long Guoqiang explains that the positive and negative lists have their own advantages and disadvantages. It is hard for us to expect a very short "negative list" in a short time.

The positive list is what the government can do to prevent and control risks, but the problem is to curb market innovation.

And negative list, each item must be carefully considered, but outside the list, the biggest advantage is that it can stimulate the market's innovative vitality.

"The experiment is a small step, which is a great step for our management and reform.

This means a revolutionary change in management philosophy.

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< p > at present, many places such as "a href=" http://sjfzxm.com/news/index_p.asp "> Guangdong" /a "and Zhoushan are all declaring a free trade area, forming a" FTA fever ".

Long Guoqiang suggested that the declaration plan should be integrated with the central government's co-ordination. In the light of the principle of a mature one, the establishment of a new free trade zone does not require a detailed timetable.

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"P > whether the capital import and export of the test area will impact the domestic market or not, long Guo Qiang explained that capital import and export is the UniCom of the experimental area and the international financial market, rather than the domestic financial market Unicom, the above concerns should not appear.

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