Research On The Establishment Of China's Offshore Financial Centers

How to build up the offshore financial market in China is one of the hot topics in economic fields currently. The establishment and the development directions of the Chinese offshore financial market must suit the Chinese condition, matching the Chinese economic development with local financial market.The offshore financial market is the outcome of the financial liberalism, internationalization, produced from the 50's in 20 centuries up to now, and quickly becomes the important part of the modern international financial system, brings the huge income and conveniences for many nations. along with the establishment of our country`s market economy system, in order to improve the international position and competition abilities in international financial circles, our country should plan and set up offshore financial market progressively. Building up the offshore financial market can accelerate the finance internationalization of our country`s.The banking of China has already opened outward completely at the end of 2006 years, and is experiencing an unprecedented revolution. Developing offshore financial market is also the way to build up china`s international finance center. We must realize that the opportunity and the challenge coexist. In the process of building up the offshore financial market, we must be careful in order to make no mistakes.After southwest Asia finance turmoil happened in 1997, many important and international finance institutions begin to pay more attention to the risks brought by the offshore finance. For example, The IMF, The FSF, FATE and OECD made a lot of research about this kind of risk.Where is the offshore finance market located? Different researchers have different opinions based on their reason. Yang Jianyue thought that ShangHai is the best city to build up the offshore finance market; HuaJun chooses Tianjin, Du Lanying chooses Wuhan etc.. According to this, this paper studied the development process of the offshore financial market and the deep reason why it develops so quickly. On the basis of analyzing the necessity and possibility of developing our country`s offshore financial market, then we make a deep analysis about how to choose the best city for offshore financial center.