Shanghai Pilot Free Trade Zone presses ahead with financial market reform

According to officials, the Shanghai FTZ was required to try ahead of others in China free capital account convertibility of RMB in a step-by-step manner and a principle of risk controllability.

What’s more, wider-scale use of RMB in cross-border economic and financial activities was intended for the Shanghai FTZ so as to press ahead with the “going out” of RMB and capital via trade, industrial investment and financial investment.

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