Financial reform has always been the focus of the Shanghai Free Trade Zone.
The "Proposal" proposes that the Shanghai Free Trade Zone should strengthen its linkage with the construction of the Shanghai International Financial Center and actively and orderly implement the "Plan to Further Promote the Pilot Project of Financial Opening and Innovation in China (Shanghai) Pilot Free Trade Zone to Accelerate the Construction of the Shanghai International Financial Center". Shanghai should speed up the construction of an internationally-oriented financial market system, a global RMB service system, and an orderly advancement of capital account convertibility trials.
In the new plan, the Shanghai Free Trade Zone will become the "Belt and Road" investment and financing center. The plan proposes that the Shanghai Free Trade Zone should strengthen the financial service function for the "Belt and Road" construction. Promote in-depth cooperation and interconnection between the Shanghai International Financial Center and the financial markets of countries and regions along the "Belt and Road". Strengthen strategic cooperation with offshore RMB offshore markets, steadily promote the issuance of RMB bonds and asset securitization products by overseas institutions and enterprises, support high-quality overseas enterprises to use the Shanghai capital market to grow and develop, and attract central banks, sovereign wealth funds and investors in countries along the route to invest in domestic RMB Assets to provide financing services for major projects along the Belt and Road.
How will Shanghai serve the “Belt and Road” enterprises and will overseas companies be listed on the domestic market? In response to this, Li Jun of the Shanghai Finance Office said, "In addition to listing, the current Shanghai capital market is mainly used to issue bonds." Tear off her underwear mini game
For example, on March 16th, Rusal Aluminum successfully completed the first issuance of RMB bonds (Panda bonds) on the Shanghai Stock Exchange, with an issuance period of 2 + 1 years and an issuance amount of 1 billion yuan. This is the first large-scale Russian order. The panda bonds issued by key enterprises in China are also the first panda bonds issued by enterprises in countries along the “Belt and Road”.