要闻转载: 【禁闻】上海自贸区砸开一道口 前景难料

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【禁闻】上海自贸区砸开一道口 前景难料
Sep 27th 2013, 21:00, by www.ntdtv.com












采访编辑/秦雪 后制/李智远

The Shanghai Free Trade Area, FTA is opening soon which has
raised many discussions and expectations.
Different sources say, currency exchanging freely and interest
rate liberalization will equate to breaking a hole in the wall.
Experts believe that currency exchanging freely cannot be
completely confined to the Shanghai FTA, but will permeate
through the whole of China with unbounded finance.

The hole in the wall of money will grow bigger and bigger.

What are the prospects of a Shanghai FTA with
Chinese Communist Party CCP economic policy leading
to rapid growth but ignoring steady development.
Let's take a look at the analysis.

On 29th September, the Shanghai Free Trade Area, FTA strongly,
promoted by the Chinese Premier Li Keqiang will be officially
established and will publish 32 related detailed rules.

Outside expectation is fairly high since some officials want
it to become more of an influence as revealed this summer.

Bank account interest rates will be fully liberalized in this
region and Beijing will completely open the
closed capital account as hinted.

Maybe foreign telecommunications companies will be allowed
to invest in this area, and compete with the domestic mobile
services giants such as China Mobile eventually.

Former State Commission official and current Beijing Siyuan
Social Sciences Research Centre CEO Cao Siyuan thinks
compared to China's special economic zones over the past
30 years, large and small, the Shanghai Free Trade Area has
more import and export rights and Foreign Exchange Authority.

However, Cao Siyuan's understanding is that only successful
enterprises that join the Shanghai FTA can enjoy
the right of foreign exchange freely.

Beijing Siyuan Social Sciences Research Center CEO Cao Siyuan:
To join the Shanghai FTA and enjoy exchange freely, you have
to meet certain conditions and complete certain formalities.

On 16th September, British "Reuters" quoted
Standard Chartered Bank analysts said
there is an unbalanced contradiction
in the Shanghai trading zone.

The influence will be very small if the authority limited
companies to do all their business in
the Shanghai trading zone.

However, if the financial services can be offered to any
company in China, it will basically open up its capital
account and result in capital spewing out.

The Public Policy Institute of Renmin University executive
VP, Professor Mao Shoulong said, the economic free trading
zone is a more important concept.

It is very favorable for the global economy and the
development of market economy.

On 15th September, U.S. business magazine "Forbes"
published Chinese writer Zhang Jiadun's article stated
almost every Chinese economic expert is concerned about
the Shanghai FTA, because the authorities will break down
an amazing hole in the Chinese currency wall.

Professor Mao Shoulong also believes that freely currency
exchange cannot be completely confined to the Shanghai Free
Trade because it is impossible to have financial barriers.

The Public Policy Institute of Renmin University executive
VP, Professor Mao Shoulong: money has no identity and borders.
You can see the Financial Marketization reform has limited
scope on the one hand;
it still has room to open up on the other.

It doesn't mean all businesses and financial institutes can
exchange freely there, otherwise it is equal
to full liberalization.

Professor Mao Shoulong questioned what is the meaning of
the liberalization reforms, if the authorities confined
exchanging currency freely to the Shanghai trading zone.

On 26th September, the US "Wall Street Journal" reported that
in the past 30 years, the CCP had established numerous SEZ
(special economic zones) in China, large and small, but still
refused to embrace the lessons learned from these SEZ.
As they know economy liberalization in full swing would result
in the weakening of their authority.
At present, more evidence shows that China's special economic
zones exist to just achieve rapid growth rather
than be steadily liberalized.

相关标签:  上海自贸区    货币自由    经济特区    经济政策    


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