RMB Capital Account Convertibility Will Be Tried In Shanghai Free Trade Area
Shanghai free trade area will try RMB capital account convertibility
On the "2015 Lujiazui forum" held recently, the deputy director of the State Administration of foreign exchange, Fang Shang Pu, said that
Shanghai Free Trade Zone
First, the RMB (6.2094, 0.0004, 0.01%) capital account convertibility will be promoted to facilitate investment and financing.
"We are actively studying and implementing the State Council's new policy on reform and innovation in FTA.
Exchange control
The requirements, especially the convertibility within the limits of the pilot capital account, allow the enterprises in the FTA to carry out their own businesses within a certain limit.
Cross border investment and financing
Activities. "
Fang Shang Pu said.
Wang Zuji, President of China Construction Bank, said that the reform of the FTA pilot area, especially the financial reform, has entered the Deepwater period and is becoming more and more difficult.
In terms of supervision, we should further improve the macro Prudential Management Mechanism and speed up.
Reform of foreign exchange system
In order to promote the unification of cross-border RMB and foreign exchange supervision policies.
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