China, despite being recognized for its impressive Macroeconomic performance in the modern economy, is falling short of expectations by both savvy investors and the government itself. To combat this problem, market oriented reforms are being proposed once again. Facing challenges both internally and externally, recent reforms are financially focused. Although they face strong opposition, China’s top leaders are pushing forward financial reforms, most of which start from the Shanghai Free Trade Zone. China’s government aims to achieve more liberalized capital account (so as to facilitate RMB internationalization), a more market-oriented exchange rate, and complete marketization of the interest rate.
In addition to presenting an analysis of the challenges to financial reform within China, Bo Chen will also provide comments on the most recent financial reforms initiated in the Shanghai Free Trade Zone:
- Free Trade Unit Account to both enterprises and individuals
- The perspectives of the more liberalized financial service sector
- The emergence of an International Financial Center
- The progress of interest rate marketization