中国离岸金融指数企稳回升，去年离岸跨境人民币收付同比增14%

Core Insights - The report indicates a shift in China's offshore finance from scale expansion to structural optimization, with the offshore financial index rising to 106.50 points in 2024, a 0.31% increase from 2023 [1][3] Group 1: Offshore Financial Index Overview - The offshore financial index serves as a comprehensive measure of China's offshore financial development, reflecting the depth of financial openness and international competitiveness [1] - The index's slight recovery amidst a complex global financial environment demonstrates the resilience and stability of China's offshore financial system [1] Group 2: Structural Changes in Offshore Finance - The 2024 offshore finance landscape shows a "four increases and one decrease" pattern: offshore bond issuance grew by 3.04%, offshore trade settlement increased by 1.28%, and cross-border RMB transactions exceeded 35 trillion yuan, up approximately 14% [3] - Traditional offshore lending and deposit business has seen a decline in its share of the overall business structure, indicating a transition towards a multi-functional and comprehensive financial service system [3] Group 3: Policy and Institutional Developments - The continuous optimization of the free trade zone's tax system and cross-border financial regulations provides a stable and predictable environment for offshore financial development, supporting the index's recovery [4] - The report emphasizes that the core driver of the index's stability is the ongoing institutional opening and structural adjustments in offshore finance [5] Group 4: Future Development Directions - The report outlines three key directions for future development: deepening institutional openness, promoting Shanghai-Hong Kong collaborative development, and expanding the full-chain functions of offshore RMB in pricing, settlement, and investment [5] - The establishment of the Hainan Free Trade Port is highlighted as a significant institutional milestone that will provide new experimental space for offshore financial innovation [5] Group 5: Role in Global Financial Governance - The role of offshore finance in supporting high-level openness and participating in global financial governance is expected to become more prominent [6] - The report suggests that continued collaboration between onshore and offshore markets is essential for enhancing China's influence in the international financial system [6]