The PBOC and four central departments with the Shanghai municipal government
issued the Shanghai offshore finance action plan. Milestones: by end-2027
establish business rules, risk-management and resolution frameworks and an
offshore-friendly operating environment, and pilot digital-frontier offshore
financial businesses to better serve Chinese firms’ outbound activity. By
end-2030 form a relatively mature offshore institutional and legal framework to
provide secure financial services for Chinese international investment and
trade, serve as a testbed for onshore financial reform, and support RMB asset
global allocation and risk-management functions. By end-2035 position Shanghai
as a strategic hub coordinating high-level onshore–offshore development and
leading national financial opening and high-quality growth.
