Legal Research About Financial Innovation In Qianhai Where Is A Modern Services Industry Cooperation Zone Between Shenzhen And Hong Kong

The economic cooperation between Shenzhen and Hong Kong meets the requirements of national economic strategy, but also as a connection among the Mainland, Hong Kong, Macao and the Pearl River Delta, which as the core of the necessary requirements. Since its limits of geographical factors, Hong Kong’s urgent need to develop the vast mainland market. Also in the history, culture, legal environment and market policies, Hong Kong has relatively strong leadership skills, which serves to promote the entire regional economy to a higher level; Shenzhen has become the most successful Special Economic Zone after experiencing rapid development in the three decades of reform and opening up, it is facing many difficulties such as a lack of international capital and the need to accelerate economic restructuring at this stage. Because of the development in each of the two places encountered a bottleneck, therefore using their complementary strengths to promote the economic development from each other in order to achieve the integration and economic circle of Shenzhen and Hong Kong has been two cities’goals and motivation. As the basis and catalyst of Shenzhen and Hong Kong’s economic development, financial sector is undoubtedly their pillar industry. Qianhai coming on the stage of history will further promote the Shenzhen and Hong Kong financial cooperation, enhance the level of cooperation of both sides. As a new demonstration area in the Shenzhen Special Economic Zone with the deepening of reform and opening up, much people look forward to the development of Qianhai. The financial industry is undoubtedly the biggest shining points which to build Qianhai cooperation platform. In order to promote the integration of Shenzhen and Hong Kong’s financial industry and to improve the efficiency and convenience of financial services in this area, we need to create a scientific and favorable legal environment, which is currently an important issue Qianhai faces.This paper conducts a comprehensive exposition of historical background, current cooperation, the pros and cons of factors and relying on Qianhai’s financial innovation in the future etc, seeks to start the research from further deepen financial cooperation between Shenzhen and Hong Kong. Complying with WTO rules and not contrary to the premise and foundation of CEPA, combining with national conditions, appropriate learning the advanced experience of foreign financial legislation and coordinating of laws and regulations between the Mainland and Hong Kong in various political, economic and cultural patterns, therefore point the way of the basic idea of Qianhai’s financial legislation.This paper is divided into six parts from the structure:The first part is an introduction from the topics of the background and significance, then introduces a variety of research and current situation at home and abroad, for thesis research methods are described, innovations and shortcomings are summarized.The second part describes the development in history of financial cooperation between Shenzhen and Hong Kong, expounded the future development direction of Qianhai’s financial industry.The third part analyzes the legal environment of Qianhai’s financial industry development. This chapter takes a different legal basis for clues and study them separately, and interprets financial reform and innovation policies of Qianhai.The fourth part analyzes the advantages and problems of the financial cooperation between Shenzhen and Hong Kong through the SWOT analysis method. On this basis, it discusses the competitive relationship between Qianhai and free trade zone in Shanghai and also discuss the legal obstacles in Qianhai’s development.The fifth part is learning from international experience in financial legislation. In order to learn the specific details of laws and regulations at the operational level, it makes some analysis about domestic legislation, international legislation and the features in existing international financial centers, and then sums up the experience.The sixth part establishes the basic contents of Qianhai’s financial legislation in capital markets, money markets, banking markets and insurance markets in considering the difficulties and emphasis about development of financial sector in Qianhai.