An Analysis Of The Negative List Of Financial Industry In Shanghai Free Trade Zone

The establishment of Chinese(Shanghai)free trade zone(hereinafter referred to as the Shanghai Free Trade Zone)is a major strategic decision made by the China central government.The establishment of Shanghai Free Trade Zone is propitious to cultivate the ability of compete with the global competitors,to build a new platform of cooperation among countries,to expand a new space for economic growth,to create China’s “upgrade edition of economy”.The negative lists are actually referred as to a permission of reverse mode opening to foreign capital,which is a reverse concept with the "positive list" in "general agreement on trade in services" of WTO.Negative list management of Shanghai FTA is to comply with the tide of the world economy,an important step in promoting the reform government macro management and innovation.The negative list management can bring the decentralization in the view of system.Because of its real power of decentralization,the negative list management is worth promoting to the whole country.Contents of Negative list are restrictions on foreign investors,but outside the list,foreign investors and Chinese market subjects have equal legal status.Pre-establishment National Treatment breaks the Chinese traditional investment access system,and it takes the same market standards between the domestic and foreign market subject in the free trade zone.Foreign market subjects have wide and free rights which outside the scope of the FTA negative list field.Therefore,the Shanghai free trade zone gives the market subject an equal opportunity to compete.This paper is based on the negative lists of financial industry in Shanghai free trade zone,and compared with bilateral trade treaty(BIT)and international investment agreements(IIA).By comparing the negative lists of financial industry in Shanghai free trade zone and other agreements,we can come out with how to develop Shanghai free trade zone negative lists in the future.With the example of America and the Philippines I interpret the advantages and disadvantages of negative list in the process of attempting in America and the Philippines.And I will put forward opinions and suggestions to the negative list(version 2016)of Shanghai free trade zone.This paper is divided into three parts: the first part mainly introduces the formulation and implementation situation of negative lists of BIT and IIA.The second part is the introduction of the content of negative list content in Shanghai free trade zone.With the financial perspective to show the evolution of different versions of the negative list.And in this part I will put the new attempt in Shanghai free trade zone on focus.The third part is the conclusion based on all above.And put forward the problems of negative list of Shanghai financial industry,and then make suggestions for improvement.