| In the context of economic globalization, the offshore financial market plays animportant role in the economic development of the world as an important historicalinnovation of financial internationalization. All the countries in the world arecontinuously establishing their own offshore financial markets to pursue theopportunities, by which they benefit their national economies and improve theireconomic positions over the world. Under the background of economic globalization,the development of offshore financial markets has become the focus in the world’sfinancial competition. China, as the largest developing country in the world, whichhas been paid much attention worldwide in the field of economic development, ismaking its genuine advantages and conditions to establish the offshore financialmarkets. It is not only important for China to become an international financial center,but also a necessary step for the internationalization of RMB; moreover, the trend ofChina’s economic development in the future. However, in this process, the negativeimpacts on the economic development need to be addressed as well when we benefitsfrom the offshore financial markets.Compared with the traditional, many particular legal issues come out as a resultof the international offshore financial markets and their particular regulating demand.This paper is aimed to present some suggestions on the mode selection and the designof legal system of China’s offshore financial market on the basis of analysis of theconcerned legal issues by means of SWOT. Firstly, some basic concepts of offshorefinance are introduced to clarify what the offshore financial market is, and anoverview with respect to its developing history, reasons and trend is summarized toconclude its importance in the process of economic development. Secondly, theparticular legal issues of the offshore financial market are analyzed focused on theconflicts of jurisdiction of offshore financial transactions, legal aversion, reservationof public order and the legal status, features and principal of the offshore financialmarket. On the basis of the analysis of the regulation of the offshore financial market, the relationship between offshore financial market and the stability of internationalmonetary is concluded. In the last part, the strategic policy of the development of theoffshore financial market in China is analyzed and the advantages, weaknesses,opportunities and threats of establishing offshore financial markets in our country areclearly summarized. In view of the national current conditions of China, and somepractical suggestions are made on the construction of offshore financial market,focused on the framework of the legal system. |
