构建“六位一体”离岸金融体系

Core Viewpoint - The article emphasizes the strategic direction for the development of China's offshore financial system, aligning it with the Shanghai International Financial Center, highlighting its role in enhancing national financial competitiveness and supporting the internationalization of the Renminbi [1][22]. Summary by Relevant Sections Offshore Financial System - The offshore financial system is not merely a combination of "overseas accounts + foreign currency business," but a comprehensive institutional ecosystem that integrates five dimensions: financial, institutional, governance, spatial, and strategic [3][6]. Financial Dimension - This includes offshore accounts such as OSA (Offshore Accounts), FT (Free Trade Accounts), and NRA (Non-Resident Accounts), as well as offshore bonds, funds, banks, and insurance services [3]. Institutional Dimension - It encompasses applicable laws, judicial arbitration, regulatory rules, tax policies, and compliance standards [4]. Governance Dimension - This involves cross-border regulatory cooperation, data governance, anti-money laundering, anti-tax avoidance, and ESG (Environmental, Social, and Governance) standards [5]. Spatial Dimension - It relies on offshore financial functional zones, international financial centers, and cross-border cooperation platforms [6]. Strategic Dimension - The system aims to serve the internationalization of the Renminbi and the Belt and Road Initiative, aligning with high-standard rules such as CPTPP and DEPA, and requires pilot verification through free trade experimental zones [6]. Core Functions of the Offshore Financial System - The system's core functions are reflected in three aspects: establishing institutional pricing power for Renminbi-denominated assets, optimizing global capital efficiency, and transforming domestic regulatory experiences into international rules [7][8]. Challenges in the Current System - The current offshore financial system faces challenges such as institutional supply lagging behind strategic demand, fragmentation of regulations, and a lack of a unified legal framework [9][10][11]. Proposed Institutional Framework - A proposed "1+N+X" framework includes the establishment of an Offshore Financial Law, specialized business regulations, and local differentiated pilot programs to enhance the system's effectiveness [13][14]. Legal and Taxation Improvements - Recommendations include creating an "offshore legal applicability zone," upgrading the account system to integrate both domestic and foreign currency functions, and optimizing the tax system to attract more offshore entities [14][17]. Integrated Innovation - The article advocates for a "six-in-one" integrated innovation approach that combines finance, law, taxation, governance, spatial planning, and international rules to create a robust offshore financial ecosystem [15][18]. Future Direction - The construction of a Chinese offshore financial system should focus on institutional confidence, avoiding the mere replication of models from Hong Kong and Macau, and instead, aim to be a rule-setting entity in the global financial landscape [20][21].