Financial Reform Is Attracting Attention, Ministries And Committees And Local Initiatives Have Been Implemented Successively.

Since the establishment of the Shanghai Free Trade Zone, the financial reform pilot has been given high expectations.

In the past year, the financial reform of the free trade area has achieved fruitful results.

The financial innovation of FTA mainly involves 4 fields, such as cross border RMB usage, RMB capital account convertibility, interest rate liberalization and foreign exchange management.

On the day of the Shanghai Free Trade Zone listing, the SFC [micro-blog] issued "capital market support policies and measures to promote China (Shanghai) free trade pilot area", and clarified the 5 policy measures supporting Shanghai's free trade area in the capital market.

In December 2, 2013, "central bank [micro-blog]30" announced.

On the 18-28 th of February this year, 5 financial implementation rules, including payment agencies' cross-border RMB payment business, expanding cross-border use of RMB and liberalized small foreign currency deposit interest rates in the free trade area, were continuously issued.

In May 22nd, the Central Bank of Shanghai headquarters issued the detailed rules and detailed rules for Prudential Management of the Shanghai free trade area, laying the institutional foundation for the financial reform of the free trade area.

The central bank supports the seven rules of financial reform in Shanghai free trade area, and the system of financial opening and innovation in Shanghai free trade area has basically formed.

The China (Shanghai) free trade pilot zone Ordinance has been put into effect since August 1st.

The regulation points out the key points of the five major financial innovations in Shanghai Free Trade Area: Innovating the account system conducive to risk management; promoting investment and financing exchange convenience; RMB cross border use; promoting the marketization of interest rate system; and establishing a foreign exchange management system compatible with the development needs of the pilot area.

In September 15th, the Shanghai municipal government issued the "Implementation Opinions on further promoting the healthy development of the capital market" (known as the 33 article) to create a free trade area and Shanghai capital market heights.

In September 18th, the Shanghai international free trade zone "gold international board" was launched online. This is the first international board opened in the free trade area, which means that the further opening of the domestic gold trading market will increase our gold pricing power.

In addition, the Shanghai free trade zone "trust registration trial implementation" has landed.

The formation of a number of replicable and promotional systems is one of the original intentions of the Shanghai free trade zone.

Through a year of reform and innovation experiments, some measures have been implemented in the whole country or elsewhere.

According to the principle of "one batch and a group of promotion", the Shanghai customs has launched 17 systems to promote the classification and replication of the 17 systems in the customs area.

Sun Yibiao, deputy director of the General Administration of customs, said recently that since the establishment of the Shanghai free trade pilot area in the past year, 23 reform measures have been formed. These measures will be replicated and promoted in three steps at the national customs.

It is reported that

The first batch of 3 quality control innovation systems that can be replicated and popularized in the FTA are: Reform of the enterprise standard filing management system, cancellation of the processing record of industrial products production license, and the real-time code of organization code, which has been affirmed at the national level and will be implemented throughout the country.

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The Provisional Regulations on publicity will be put into effect in the whole country from October 1st. This is also another "replicable and popularized" experience in the first batch of "first trial and first" policy in the free trade area.

"After the preliminary summary and evaluation, at present, 13 reform items in the FTA have been promoted nationwide, and 4 reform items have been promoted in the whole city."

Xiao Lin, director of the Shanghai Municipal Government Development Research Center, said that including the negative list, small foreign currency deposit interest rate liberalization,

The pilot projects, such as the first post license, the annual inspection report of enterprises, the centralized operation and management of multinational companies' foreign exchange funds, the cross-border RMB business and so on, have been promoted outside the FTA.

According to media reports, the Shanghai free trade zone will launch 36 replicable and promotional experiences this year.

However, Dai Haibo, executive deputy director of the Shanghai Free Trade Area Management Committee, said in September 2nd that when the anniversary celebration was held, the experience of the Shanghai free trade area that could be copied and promoted could exceed the previous 36 systems expected by the market. The content of the increase will be focused on institutional innovation, which mainly involves investment, trade, finance and post event supervision.