12月19日，第二十二届中国国际金融论坛在上海举行，《中国离岸金融指数报告（2024-2025）》（下称"《报告》"）于会上发布。 在挑战层面，景建国指出三大亟待突破的瓶颈。一是传统外币业务持续萎缩，存贷款占比降至0.60%，业务结构优化迫在眉睫；二是宏观环境阶段性受 限，宏观经济基本面面临短期压力，对离岸金融业务的市场需求与拓展空间形成一定制约；三是风控体系有待完善，现有风险管控机制仍存在薄弱环节，对 复杂市场环境下的风险识别、预警与处置能力需进一步提升。 记者了解到，这份凝聚行业智慧的报告，由上海国际经济研究院、上海金融业联合会与中国首席经济学家论坛联合发起，上海首席经济学家金融发展中 心离岸金融研究所课题组精心编制。作为观察中国金融双向开放的核心窗口，此次发布不仅为市场注入强心剂，更搭建起政策制定与市场实践的沟通桥梁。 机遇层面，景建国指出，一是要紧握"突破中的动能"，找准发展方向。创新业务借势崛起，人民币国际化进程持续推进，带动离岸金融领域创新业务快 速发展，成为驱动业务增长的"新引擎"，为市场注入强劲活力。二是要制度生态持续优化，以海南封关政策为代表的制度红利逐步释放，政策环境不断完 善，为离岸金融 ...

（原标题：中国离岸金融指数企稳回升 业内专家建议构建现代化离岸金融生态体系） 近日，《中国离岸金融指数报告（2024-2025）》（以下简称"报告"）在上海发布。该报告由上海国际 经济研究院、上海金融业联合会与中国首席经济学家论坛联合发起，上海首席经济学家金融发展中心离 岸金融研究所课题组编制，深度解码中国离岸金融高质量发展的新路径与新机遇。 报告显示，2024年，中国离岸金融指数较2023年的106.16点微升0.31%。上海首席经济学家金融发展中 心离岸金融研究所所长景建国说，看似0.31%的细微增幅，却印证了我国离岸金融市场的韧性，为金融 强国建设筑牢了坚实的市场根基。展望"十五五"，人民币离岸金融正站在战略风口之上，他建议，我国 应全力破解离岸金融的结构性短板，构建起与我国经济地位相称的现代化离岸金融生态体系。 "四升一降"彰显转型质变 在中国首席经济学家论坛理事长连平看来，金融国际化离不开离岸金融，而离岸金融不是简单的在岸金 融的延伸，而是一个具有独特功能，在一个更开放环境里进行制度创新和压力测试，可以把离岸金融看 成是试验田和连接器。 这组数据如同精准的"市场心电图"，清晰折射出中国离岸金融已从" ...

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Core Viewpoint - Shanghai and Hong Kong are not in a competitive relationship but are interdependent and collaborative, with Shanghai serving as a strong support and important complement to Hong Kong's status as an international financial center [1] Group 1: Impact of Offshore Finance Development - The development of offshore finance in Shanghai may divert some offshore financial business from Hong Kong due to favorable policies and reduced operational costs in mainland China [2] - The rapid growth of Shanghai's offshore finance creates job opportunities and may attract financial talent from Hong Kong if Shanghai offers better compensation and career advancement [2] - Increased competition from Shanghai's financial institutions in offshore financial products challenges Hong Kong's traditional advantages, particularly in offshore RMB products [2] Group 2: Positive Collaborative Effects - Hong Kong's experience in RMB clearing and trading, combined with Shanghai's policy support, presents significant cooperation potential in cross-border RMB flow and offshore financial product innovation [3] - The development of Shanghai's offshore finance strengthens financial ties between the two cities, with Hong Kong acting as a bridge to international markets for mainland enterprises [3] - Shanghai's offshore finance can enhance Hong Kong's financial institutions' innovation in products and services, providing a stabilizing effect on Hong Kong's financial center [3] Group 3: Strategies for Collaborative Development - Hong Kong should leverage its advantages in the offshore RMB market to enhance services in clearing, trading, and investment, focusing on promoting RMB internationalization [4] - Strengthening cooperation mechanisms between Shanghai and Hong Kong can optimize cross-border payment systems and enhance collaboration in emerging fields like green finance [5] - Both cities should invest in talent development, with Hong Kong focusing on cultivating interdisciplinary financial talent and Shanghai optimizing its talent attraction mechanisms [6] Group 4: Shanghai's Role as a Supportive Partner - Shanghai's robust real economy and industrial resources provide extensive business opportunities for Hong Kong financial institutions, particularly in manufacturing and technology sectors [7] - Shanghai's financial policy innovations can serve as a reference for optimizing Hong Kong's financial policies, enhancing cross-border regulatory cooperation [7] - Strengthening cooperation in securities markets and financial derivatives can improve risk management capabilities for both cities [7] Group 5: Enhancing Offshore Financial Cooperation - Expanding interconnectivity mechanisms like "Shanghai-Hong Kong Stock Connect" and "Bond Connect" can increase trading varieties and enhance market efficiency [8] - Jointly developing offshore financial products, such as offshore bonds and funds, can attract global investment and support green development initiatives [8] - Establishing a platform for regular financial talent exchange can facilitate knowledge sharing and enhance the professional capabilities of financial personnel in both cities [9] Group 6: Regulatory Coordination - Establishing regular communication mechanisms between financial regulators in Shanghai and Hong Kong can ensure policy alignment and prevent regulatory arbitrage [10] - Collaborative efforts in monitoring cross-border financial risks and sharing information can enhance the stability of financial markets in both regions [10] - Utilizing technology for risk monitoring can help prevent cross-border financial crimes and ensure market security [10] Group 7: Regional Collaboration - Hong Kong's active participation in the Guangdong-Hong Kong-Macao Greater Bay Area development can strengthen financial cooperation with Shanghai and other cities in the Yangtze River Delta [11] - Optimizing cross-border payment systems and enhancing collaboration in green finance can create a competitive financial industry cluster [11] - Leveraging the influence of both cities in international finance can provide financial support for offshore economic projects in related countries [11]