The Development Of Offshore Financial Market In China

The offshore financial market of China started at 1989, and temporarily stagnated after Asian financial crisis. People's Bank of China has re-approved offshore financial business since 2002, and granted communication bank and several other banks to start offshore financial business. So the point of this article is to study how to further develop the offshore financial market of China in the new situation.The first part mainly elaborately explained the meaning of offshore financial market and analyzed the characteristics, the development process and type of offshore financial market.The second part began at the analysis of the development of offshore financial market since 1980s, displaying some trend of the development of offshore financial market such as nations unified to enhance the surveillance and fusion with inshore market. This part also analyzed the economic influence of the offshore financial market from the positive and negative sides.The third part mainly explained theories of the formation and development of offshore financial market, the formation theories include the theories about financial innovation and financial market integral whole turns theories. The development theories include scale economics, niche economics and financial product mobility theories.The Fourth part analyzed the necessity and conditional foundation of offshore financial market, combined abroad experience of development of offshore financial market, such as choosing mode which suit oneself etc. This part also analyzed the present condition of Chinese offshore financial market and problem which appeared during the development of Chinese offshore financial market.The fifth part gave the counter plan about the development of Chinese offshore financial market. China should choose the outside-inside separation type and the location should be Shanghai. China should adopt other measures such as drawing up the special policy, training talented person, the legal system construction, enhancing the surveillance etc.In fine, the development of the offshore financial market of China is the prelude of the combination of Chinese economy and world economy, the healthy development of the offshore financial market of China will prompt the development of Chinese economy hugely.