From "Connecting With The World" To "Promoting The Evolution Of Rules"

The Shanghai free trade zone is a trial with both offensive and defensive capabilities.

From the perspective of "Shou", we have to prove that we have the ability to withstand the competition of high standard open economy and stand out from it. Under the pressure of the full rise of labor, land and other costs, it is proved that China's economy is capable of maintaining sustainable development momentum through reform, improving public services, stimulating innovation and vitality, and leaps to a new level.

From the perspective of "attack", we must rely on the forefront and new heights of the open economy to fight for the leading power in the international economic operation, and form a new international template in the exploration. This may become a place beyond our Hongkong.

In the twinkling of an eye, China (Shanghai) free trade pilot area is full of 1st anniversary.

The Shanghai free trade zone is the most open special economic zone in the mainland of China, or even the "ultimate version" of the special economic zone.

In the global economic competition, the Shanghai free trade zone is a trial with both offensive and defensive capabilities.

From the point of view of "Shou", in the context of the US and European attempt to take advantage of the regional economic integration process under the leadership of the p Pacific Strategic Economic Partnership Agreement (TPP) and the WTO negotiations under the Doha round, we should verify that we have the ability to withstand the high standard of open economic competition and stand out in the context of the high standard open economic experimental field. Under the pressure of the full rise of labor and land costs, we have to prove that China's economy is capable of maintaining the momentum of sustainable development through reform, improving public services and stimulating innovation vitality, and reaching a new stage, instead of being aborted like many emerging markets.

From the perspective of "attack", we must rely on the forefront and new heights of the open economy to fight for the leading power in the international economic operation, from simple "international practice" to "promoting the evolution of rules".

From the above two points of view, the Shanghai free trade area has achieved remarkable results, especially the formation of a series of replicable and pplantable experiences. It has been promoted to the whole country at an unexpected speed and has played a good role in ensuring the steady growth of the national economy.

stay

Under the background of unstable foreign trade, the general office of the State Council issued the "opinions of the general office of the State Council on supporting steady growth of foreign trade" at the beginning of May, many of which were initially tested in the Shanghai free trade area and played an important role in stabilizing the growth of foreign trade.

Today, China's foreign trade surplus has created a new record in 7, 8 and two months.

On the basis of summing up the pilot results of the six months of the pilot area, the Customs issued 14 standardized, pparent and inclusive arrangements in April, including the "declaration after the advanced area", "self pportation in the region", "bonded exhibition trading", "single form verification", "maintenance inside and outside the country", "futures bonded delivery", "financial leasing", "simplifying unified entry and exit record list", "batch in and out, centralized declaration", "warehousing enterprise interconnection supervision", "intelligent card inspection and release", "selective taxation of domestic sales", "centralized tax collection", "centralized tax collection", "

Paperless customs clearance with attached documents.

These innovative systems related to customs clearance, supervision, taxation, bonded and other fields, better adapted to the law of production and operation of enterprises, reduce operating costs and improve the efficiency of customs clearance.

Only the advanced and post declaration mode can shorten the warehousing time from the port area to the district from 2 to 3 days to the half day. After the implementation of the self pportation in the area, the freight pfers between the four districts will save about 200 thousand of the pportation cost annually.

In order to enlarge the innovation effect of customs supervision in Shanghai pilot Free Trade Zone, the General Administration of customs began to sum up its experience in August. In accordance with the principles of actively and prudently, adjusting measures to local conditions, feasible and effective and controllable risks, we implemented various institutional arrangements and reform measures at different levels to release the reform dividends and benefit more enterprises.

In the field of financial services, the central bank simplified the process of cross border trade and investment in RMB settlement.

The banking financial institutions can directly handle the RMB cross-border settlement business under current account and direct investment on the basis of "understanding your customers", "understanding your business" and "due diligence".

Transnational conglomerates can carry out cross-border RMB capital centralized operations in accordance with the relevant provisions of the Central Bank of China, including cross border two-way Renminbi pool business and cross-border RMB centralized payment and receipts business under regular pactions.

The headquarters of a pnational enterprise group may designate a member enterprise (including a financial company) that is legally registered, established and actually operated or invested in China and has an independent legal person qualification.

When conducting the cross-border RMB centralized payment and receipts business under the regular items, the host company may use the net settlement method of the netting net to settle the difference one by one according to the total amount of the total receipts and payments of the enterprise group or the receipts and payments of the member enterprises under the current term.

The centralized operation of cross-border RMB funds should fulfill the duty of declaration of international payments according to the relevant provisions of the international balance of payments declaration.

Banking financial institutions can provide settlement services for cross-border trade in goods trade and service trade.

Industrial financial institutions can directly handle cross-border RMB settlement business for their clients on the basis of personal valid identity documents or business license. If necessary, they can ask customers to submit relevant business vouchers.

Almost all of these measures were initially tested in the Shanghai free trade area.

In addition, some economic and political changes at home and abroad have also made an unexpected boost to the outcome of the Shanghai free trade area.

The Hongkong SAR's disputes over the direct election of the chief executive have greatly enhanced the attractiveness of the Shanghai free trade zone. The protracted anti trade agreement and the wave of populism have greatly worsened the political and economic environment of Taiwan, and also promoted the mainland's main role in absorbing the economic resources of Taiwan.

At the same time, the sudden change of Ukraine's situation and the rapid growth of the Western bloc's sanctions against Russia and Russia's capital flight led to a large number of foreign trade and international financing being prepared or ready to turn to the renminbi.

It should be noted that offshore financial business is expected to become a major innovation area in the development of Shanghai Free Trade Zone, and the development of offshore financial business is complementary to RMB internationalization.

The international market participants generally regard the assets such as US dollars and Swiss francs as the safe haven in the international financial market. With the rising strength of our country, RMB assets are very promising to become new haven assets in the international financial market.

If the original offshore non residents invest in Renminbi haven assets mostly choose the form of direct investment, then with the further opening of China's financial market, the non resident investment in RMB will be more and more.

At the same time, it is precisely because the Shanghai free trade zone this test field also has the meaning of "attack".

At the beginning of the establishment of the Shanghai Free Trade Zone, some theorists advocated opening the financial industry as a whole as soon as possible.

These theorists believe that liberalization and integration with international conventions are the best choice for the development of financial centres, and Shanghai will never surpass Hongkong.

However, there are two kinds of upgrading of the financial centre: one is the financial center of a country that is unable to play a leading role in the global economy. For them, it is only "integrating with international practice" and trying to liberate as much as possible to help them grow into an international financial center; however, for those countries that are likely to play a leading role in the global economy, their financial centres should grow into a leading international financial centre. Simplex liberalization and "integration with international practices" are not the way out, but may consolidate their competitors' status.

In the process of catching up with London in New York, was it simply connected with the "international practice" at that time? Was the degree of liberalization at that time higher than that of other places? The answer is probably no, but it did not prevent New York from jumping to the global financial center from the US financial center by the trend of the rise of the United States, and making the rules of the United States an international rule.

For our country, the period of "just being in line with international practice" is now in the past, and it is more and more necessary to go out of our own way.

Although the Shanghai free trade area is generally regarded as "reinventing Hongkong" and Shanghai still has many places to learn from Hongkong, Shanghai's FTA is likely to form a new international template in the exploration, which may become a place beyond Hongkong.

The central decision-makers' expectations of Shanghai are not only "Shanghai of China" but also "Shanghai of East Asia" and "Shanghai of the world".

With the change of the political and economic situation at home and abroad, we will see more and more clearly about this.