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Notice by the People's Bank of China, the National Development and Reform Commission, the Ministry of Science and Technology et al of Issuing the Action Plan for the Construction of Shanghai International Financial Center (2018-2020) [Effective]
中国人民银行、发展改革委、科技部等关于印发《上海国际金融中心建设行动计划(2018-2020年)》的通知 [现行有效]
【法宝引证码】

Notice by the People's Bank of China, the National Development and Reform Commission, the Ministry of Science and Technology, the Ministry of Industry and Information Technology, the Ministry of Finance, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, and the State Administration of Foreign Exchange of Issuing the Action Plan for the Construction of Shanghai International Financial Center (2018-2020) 

中国人民银行、发展改革委、科技部、工业和信息化部、财政部、银保监会、证监会、外汇局关于印发《上海国际金融中心建设行动计划(2018-2020年)》的通知

(No. 17 [2019] of the People's Bank of China) (银发〔2019〕17号)

Shanghai Municipal People's Government: 上海市人民政府:
The Action Plan for the Construction of Shanghai International Financial Center (2018-2020) as approved by the State Council is hereby issued to you for your conscientious implementation. 《上海国际金融中心建设行动计划(2018-2020年)》已经国务院同意,现予以印发,请认真贯彻执行。
Annex: Action Plan for the Construction of Shanghai International Financial Center (2018-2020) 附件:上海国际金融中心建设行动计划(2018-2020年)
Annex 附件
Action Plan for the Construction of Shanghai International Financial Center (2018-2020) 上海国际金融中心建设行动计划(2018-2020年)
The construction of Shanghai International Financial Center is a major national strategy. The period from 2018 to 2020 is a decisive stage for Shanghai to "be basically built up into an international financial center commensurate with China's economic strength and the international status of the RMB." For the purposes of accelerating the advancement of the construction of Shanghai International Financial Center, further clarifying the strategic priorities and advancement measures from 2018 to 2020, and ensuring the implementation of the national strategy, in accordance with the spirit of the Outline of the 13th Five-Year Plan for National Economic and Social Development of the People's Republic of China, the Opinions of the State Council on Driving Shanghai to Accelerate the Development of the Modern Service Sector and the Advanced Manufacturing Industry and the Construction of an International Financial Center and International Shipping Center, the Plan for a Modern Financial Framework in the 13th Five-Year Plan Period, and other documents, this Action Plan is prepared. 建设上海国际金融中心是一项重大国家战略,2018至2020年是上海“基本建成与我国经济实力以及人民币国际地位相适应的国际金融中心”的决胜阶段。为加快推进上海国际金融中心建设,进一步明确2018至2020年的战略重点和推进举措,确保实现国家战略,根据《中华人民共和国国民经济和社会发展第十三个五年规划纲要》、《国务院关于推进上海加快发展现代服务业和先进制造业建设国际金融中心和国际航运中心的意见》、《“十三五”现代金融体系规划》等文件精神,编制本行动计划。
I. Development foundation and situation for the construction of Shanghai International Financial Center   一、上海国际金融中心建设面临的发展基础和形势
1. Development foundation. (一)发展基础。
Over recent years, especially since the 18th CPC National Congress, the construction of Shanghai International Financial Center has made important progress in serving the country's economic and social development and financial reform and opening and further consolidated the status of the financial center supported by a relatively sound system of financial markets, with certain international influence. 近年来,特别是党的十八大以来,上海国际金融中心建设在服务国家经济社会发展和金融改革开放过程中取得了重要进展,进一步巩固了以较齐备的金融市场体系为支撑的、有一定国际影响力的金融中心地位。
(1) The system of financial markets has been further improved, and the capacity of financial markets has been heightened significantly. There are stock, bond, currency, foreign exchange, bills of exchange, futures, gold, insurance and other various national financial factor markets gathering in Shanghai. In 2017, Shanghai's financial markets had a trading value of 1,428.4 trillion yuan, representing a year-on-year increase of 5.3%, and direct financing amounting to 7.6 trillion yuan, and more than 85% of the country's total direct financing came from Shanghai's financial markets. The international rankings of stock, bond, futures, gold and other financial markets have increased manifestly. The trading value of multiple varieties ranks among the top in the world. In particular, the total amount of equity financing on Shanghai's stock markets ranks second in the world, and the stock trading value and market capitalization respectively rank fourth in the world. The spot gold trading value on the Shanghai Gold Exchange ranks first in the world. The trading value of ten futures products such as rebar, copper and natural rubber on the Shanghai Futures Exchange ranks first in the world. 1.金融市场体系进一步完善,金融市场能级显著提升。上海集聚了包括股票、债券、货币、外汇、票据、期货、黄金、保险等各类全国性金融要素市场。2017年,上海金融市场成交总额达1428.4万亿元,同比增长5.3%;直接融资额达7.6万亿元,全国直接融资总额中的85%以上来自上海金融市场。股票、债券、期货、黄金等金融市场国际排名显著提升,多个品种交易量位居全球前列,其中,上海证券市场股票筹资总额位居全球第二,股票交易额和股票市值均位居全球第四,上海黄金交易所场内现货黄金交易量位居全球第一,上海期货交易所螺纹钢、铜、天然橡胶等10个期货品种交易量位居全球第一。
(2) The framework of financial institutions is sounder and the scale of financial business continues to expand. In addition to the continual convergence and development of banking, securities, insurance, fund, trust and other financial institutions, various international, headquarters-based, and functional financial institutions and new types of financial institutions continue to spring up. As of the end of 2017, there had been a total of 1,537 licensed financial institutions in Shanghai. A group of important financial institutions or organizations such as the New Development Bank, the Global Association of Central Counterparties ("CCP12"), the Cross-Border Inter-Bank Payments System ("CIPS"), the China Insurance Investment Fund, and the National Internet Finance Association of China are based in Shanghai. The development scale of the financial industry continues to expand. In 2017, the added value of the financial industry was 533.05 billion yuan, representing an increase of 11.8%, and accounted for 17.7% of the city's GDP, and for 8.1% of the added value of the financial industry across the country. 2.金融机构体系更加健全,金融业务规模不断扩大。除了银行、证券、保险、基金、信托等金融机构不断汇聚发展外,各类国际性、总部型、功能性金融机构和新型金融机构不断涌现。截至2017年末,在沪持牌金融机构总数达1537家。新开发银行、全球清算对手方协会(CCP12)、人民币跨境支付系统(CIPS)、中国保险投资基金、中国互联网金融协会等一批重要金融机构或组织落户上海。金融业发展规模不断扩大,2017年,金融业增加值5330.5亿元,增长11.8%,占全市生产总值的比重达17.7%,占全国金融业增加值的比重为8.1%。
(3) The outward opening of finance continues to expand, and its internationalization steadily improves. Shanghai has become a major home to foreign-funded financial institutions in China. As of the end of 2017, there had been a total of 435 foreign-funded financial institutions in Shanghai, accounting for nearly 30% of all financial institutions in Shanghai. Foreign-funded corporate banks headquartered in Shanghai account for more than half of the total in the Chinese mainland; and joint venture fund management companies and foreign-funded insurance companies respectively account for about half of the total in the Chinese mainland. The outward opening fields of finance continually widen. The "Shanghai-Hong Kong Stock Connect," the gold international board, the "Bond Connect" and crude oil futures have been launched. Inter-bank bonds, foreign exchange, currency and other markets are opened at a faster pace. RMB overseas investment and lending funds, cross-border exchange-traded funds ("ETF") and other pilot programs have been smoothly launched. The Shanghai Institute of Marine Insurance was established and represented China in the world's largest shipping insurance association, the International Union of Marine Insurance ("IUMI"). 3.金融对外开放继续扩大,国际化程度稳步提高。上海已成为外资金融机构在华主要集聚地。截至2017年末,在沪各类外资金融机构总数达435家,占上海金融机构总数近30%。总部设在上海的外资法人银行占内地总数的一半以上;合资基金管理公司、外资保险公司均占内地总数的一半左右。金融对外开放领域不断拓宽,证券“沪港通”、黄金国际板、“债券通”、原油期货等相继启动,银行间债券、外汇、货币等市场加快开放,人民币海外投贷基金、跨境交易所交易基金(ETF)等试点顺利推出。上海航运保险协会成立并代表中国加入全球最大的航运保险协会组织--国际海上保险联盟(IUMI)。
(4) Financial reforms and innovation are advanced in depth, and innovation in financial business becomes increasingly active. Over the years, the CPC Central Committee and the State Council have always supported Shanghai in its pioneering efforts in financial reforms and development and launched pilot programs of many innovations and explorations in the financial field in Shanghai. In particular, since the proposals for national strategies such as the Belt and Road Initiative, the China (Shanghai) Pilot Free Trade Zone, and the construction of a globally influential science and technology innovation center, Shanghai has continually increased financial reform efforts, voluntarily dovetailed with and served the national strategies, further released the combined effect of collaborative innovation, been the first in the country to launch pilot programs with respect to cross-border RMB business, debt-equity combination financing, and the like, developed Internet finance and other new business types and models soundly, and become a city with the most abundant and concentrated varieties of financial product and business in China. 4.金融改革创新深入推进,金融业务创新日益活跃。多年来,党中央、国务院一直支持上海在金融改革发展方面先行先试,把许多金融领域的创新探索放在上海试点。特别是共建“一带一路”倡议、上海自贸试验区、具有全球影响力的科技创新中心建设等国家战略提出后,上海不断加大金融改革力度,主动对接服务国家战略,进一步释放协同创新的聚变效应,跨境人民币业务、投贷联动等在全国率先试点,互联网金融等新业态、新模式健康发展,成为我国金融产品和业务种类最为丰富、最为集中的城市。
(5) The financial development environment continues to be optimized, and risk prevention capabilities are continually heightened. Material progress has been made in the construction of the financial rule-of-law environment. The Proposal for Establishment of the Shanghai Financial Court was approved by the Central Commission on Comprehensively Deepening Reforms upon deliberation and adopted by the Standing Committee of the National People's Congress by casting votes. The Shanghai Municipal People's Congress issued and implemented the Regulation of Shanghai Municipality on Promoting the Construction of the International Financial Center. Financial tribunals, financial prosecution offices (departments), financial arbitral bodies, the Financial Consumer Protection Bureau of the People's Bank of China, and the Financial Consumption Dispute Mediation Center were successively established. A white paper, the Construction of the Rule-of-Law Environment of Shanghai International Financial Center, has been released for the first time in the country. Significant progress has been made in the construction of the credit system. Shanghai has issued the Regulation of Shanghai Municipality on Social Credit, the first comprehensive local credit regulation in the country. The Credit Reference Center of the People's Bank of China based in Shanghai has established a centralized and unified national basic database of enterprise and individual financial credit information. The Shanghai Public Credit Information Service Platform has been opened and put into operation. The system of specialist financial service institutions is continually improved, and remarkable achievements have been made in the planning and construction of the financial clustering area. Over recent years, Shanghai has actively attracted financial institutions and gathered financial talents by voluntarily implementing various financial service measures. Shanghai has established and successively granted the Financial Innovation Award, established the Shanghai Financial Association in the country, successfully held the Lujiazui Forum for ten times, and further enhanced its international influence. 5.金融发展环境持续优化,风险防范能力不断增强。金融法治环境建设取得重大进展,《关于设立上海金融法院的方案》经中央全面深化改革委员会审议通过、全国人大常委会表决通过。上海市人大颁布实施《上海市推进国际金融中心建设条例》。金融审判庭、金融检察处(科)、金融仲裁院、人民银行金融消费权益保护局、金融消费纠纷调解中心等陆续成立。在全国率先推出《上海国际金融中心法治环境建设》白皮书。信用体系建设取得重要进展,上海出台了全国首部地方综合性信用条例--《上海市社会信用条例》,落户上海的人民银行征信中心已建成全国集中统一的企业和个人金融信用信息基础数据库,上海市公共信用信息服务平台开通运行。金融专业服务机构体系不断健全,金融集聚区规划建设成效明显。近年来,上海通过主动实施各项金融服务措施,积极吸引金融机构、集聚金融人才。设立并连续评选金融创新奖,在全国率先建立金融业联合会,成功举办十届陆家嘴论坛,国际影响力进一步提升。
Nonetheless, it should be noted that compared with international mature financial center cities, Shanghai International Financial Center has shortcomings, primarily including: weakness despite of largeness, to wit, though market functions are complete, and trading value is high, products are not sufficient, and there is an overall lack of market pricing power and voice; necessity for further improvement on internationalization, the insufficient playing of the role as a global investment and financing center, and inadequate international influence; and necessity for further optimization of the soft environment for financial development that attracts financial talents. Those problems must be resolved by unswervingly advancing financial reforms, opening and innovation. 同时应当看到,和国际成熟的金融中心城市相比,上海国际金融中心还存在差距。主要包括:大而不强,市场功能齐全、交易量大,但产品不够丰富,整体缺乏市场定价权和话语权;国际化程度需进一步提高,作为全球投资、融资中心的作用发挥不够,国际影响力不足;吸引金融人才等金融发展的软环境需进一步优化等。这些问题,必须通过坚定不移推进金融改革开放创新加以解决。
2. Opportunities and challenges. (二)面临的机遇与挑战。
At present, the construction of Shanghai International Financial Center is in a period for outward opening and innovation, structural transformation from expansion of scale to a better focus on quality, and for development and upgrading from resource gathering to function improvement. The domestic and international environment for the construction of Shanghai International Financial Center is undergoing profound and complex changes, bringing about important opportunities as well as risk and challenges. 当前,上海国际金融中心建设正处在由内向外的开放创新期、由扩大规模到更加注重质量的结构转型期、由集聚资源到提升功能的发展升级期。上海国际金融中心建设的国内外环境正在发生深刻而复杂的变化,既面临重要机遇,也存在风险挑战。
(1) The acceleration of the construction of Shanghai International Financial Center is faced with a rare historical opportunity. The world economic and financial pattern undergoes profound adjustment. The voice of developing countries and emerging economies represented by China in international economic and financial affairs continue to improve. At the same time, China's economy holds steady and progressive, the supply-side structural reforms is implemented steadily, breakthroughs have been made in reforms in important fields and key links, and demand for financial services remains strong. Financial reforms have been advanced in depth, financial opening continues to expand, the integration of finance with information technology gathers speed, and there is relatively great potential for financial innovation. The implementation of national strategies such as the Belt and Road Initiative and the China (Shanghai) Pilot Free Trade Zone and the advancement of the construction of economic, trade, shipping, and science and technology innovation centers both present important opportunities for the construction of the International Financial Center. 1.加快上海国际金融中心建设正面临难得的历史机遇。世界经济金融格局呈现深度调整,以中国为代表的发展中国家和新兴经济体在国际经济金融事务中的话语权继续提高。同时,我国经济运行稳中有进,供给侧结构性改革稳步实施,重要领域和关键环节改革取得突破性进展,金融服务需求依然较大。金融改革深入推进,金融开放不断扩大,金融与信息科技加速融合,金融创新潜力较大。“一带一路”和上海自贸试验区等国家战略实施,经济、贸易、航运和科创中心建设推进,都为国际金融中心建设提供了重要机遇。
(2) The construction of Shanghai International Financial Center is also faced with many challenges. The aftermath of the international financial crisis is far-reaching and profound, the correlation and interaction between financial markets at home and abroad are increasingly heightened, the competition among international financial centers in the Asia-Pacific region is increasingly fierce, and there is an increase in the unstable and uncertain factors in the extrinsic environment. At the same time, China's economy has left the high-speed growth stage and entered a high-quality development stage and witnesses a critical period for transforming development modes, optimizing the economic structure, and changing growth impetus. Certain deep-seated conflicts accumulated over a long time are gradually revealed and manifested in the financial field. The task that finance supports economic transformation and development is arduous. The prevention and resolution of financial risk requires considerable and sustained efforts. Those challenges give rise to new and higher requirements for the construction of Shanghai International Financial Center. 2.上海国际金融中心建设也面临着诸多挑战。国际金融危机后续影响持久深刻,国内外金融市场关联性、共振性日益增强,亚太地区国际金融中心的争夺日趋激烈,外部环境的不稳定不确定因素增加。同时,我国经济已由高速增长阶段转向高质量发展阶段,正处于转变发展方式、优化经济结构、转换增长动力的攻关期,一些长期积累的深层次矛盾逐渐暴露并反映于金融领域,金融支持经济转型发展任务艰巨,防范化解金融风险任重道远,这些挑战对上海国际金融中心建设提出了新的更高要求。
In general, in the face of rare development opportunities and many complicated challenges, the situation shall be reviewed, overall arrangements shall be strengthened, scientific plans shall be made, advancement shall be coordinated, various favorable conditions shall be leveraged, and the resolution of various problems in the progress shall be accelerated, so as to strive to achieve the strategic objectives of the construction of Shanghai International Financial Center. 总体看,面对难得的发展机遇和诸多复杂的挑战,应审时度势、加强统筹、科学谋划、协同推进,充分利用各种有利条件,加快破解前进过程中的各种难题,努力实现上海国际金融中心建设战略目标。
II. Guiding ideology, development objectives and primary indicators of the construction of Shanghai International Financial Center   二、上海国际金融中心建设的指导思想、发展目标和主要指标
1. Guiding ideology. (一)指导思想。
Xi Jinping Thought on Socialism with Chinese Characteristics in a New Era shall serve as the guidance, the spirit of the 19th CPC National Congress shall be fully implemented, the spirit of the 2017 National Financial Work Conference shall be thoroughly carried out, and the development concept of innovation, coordination, green, opening, and sharing shall be firmly established. The Party's centralized and unified leadership over financial work shall be strengthened, the general working tone of steady progress shall be adhered to, the laws of financial development shall be followed, and with a close focus on the tasks for serving the real economy, preventing and controlling financial risk, and deepening financial reforms, Shanghai International Financial Center's function to allocate global financial resources, capability to serve China's economic and social development, and leading and driving role in promoting the regional integration of the Yangtze River Delta shall be conspicuously heightened, so as to continue to enhance the ripple effect and global influence of Shanghai International Financial Center. 以习近平新时代中国特色社会主义思想为指导,全面贯彻党的十九大精神,深入贯彻2017年全国金融工作会议精神,牢固树立创新、协调、绿色、开放、共享的发展理念。加强党对金融工作的集中统一领导,坚持稳中求进工作总基调,遵循金融发展规律,紧紧围绕服务实体经济、防控金融风险、深化金融改革三项任务,显著提升上海国际金融中心配置全球金融资源的功能、服务我国经济社会发展的能力、推动长江三角洲区域一体化发展的龙头带动作用,不断增强上海国际金融中心的辐射力和全球影响力。
—Adhering to prioritizing the construction of RMB product markets: The boundaries of RMB product markets shall continue to be pushed back, RMB products and tools shall be increased, the international influence of RMB onshore prices shall be heightened, and the construction of a RMB global payment clearing system and global financial market infrastructure system shall be expedited. --坚持以人民币产品市场建设为重点。不断拓展人民币产品市场的广度和深度,丰富人民币产品和工具,提升人民币在岸价格国际影响力,加快建设人民币全球支付清算体系和全球金融市场基础设施体系。
—Adhering to using the financial opening and innovation in the pilot free trade zone as a window: Financial reforms in the pilot free trade zone shall be continually deepened, capital account convertibility, cross-border use of RMB, the opening of the financial service industry and the construction of an internationally-oriented financial market shall be steadily advanced, financial regulation shall continue to be improved, and the interaction between the construction of the pilot free trade zone and that of Shanghai International Financial Center shall be strengthened. --坚持以自贸试验区金融开放创新为突破口。不断深化自贸试验区金融改革,稳步推进资本项目可兑换、人民币跨境使用、金融服务业开放和建设面向国际的金融市场,不断完善金融监管,加强自贸试验区建设与上海国际金融中心建设的联动。
—Adhering to using the construction of the science and technology innovation center and financial science and technology as new impetus: The historical opportunity of a new round of science, technology and industrial revolution shall be firmly seized, the close combination of science and technology with finance shall be promoted according to the laws and regulations, an innovation system effectively supported by financial science and technology shall be built up in an orderly manner, and the interaction between Shanghai International Financial Center and Science and Technology Innovation Center shall be strengthened; and the well-regulated development of "Internet plus" and other new business types and models shall be promoted, the integration of the financial industry with the Internet and other new technologies shall be boosted systematically, and the well-regulated and sound development of Internet finance shall be guided. --坚持以科技创新中心建设和金融科技为新动力。牢牢抓住新一轮科技和产业革命的历史时机,依法合规推动科技与金融紧密结合,有序形成金融科技支撑有力的创新体系,加强上海国际金融中心和科技创新中心的联动;推动“互联网+”等新业态、新模式规范发展,有序促进金融业与互联网等新技术的融合,引导互联网金融规范健康发展。
—Adhering to using the services for national strategies such as the Belt and Road Initiative, the Yangtze River Economic Belt and the regional integration of the Yangtze River Delta as a starting point: The important opportunity of the Belt and Road Initiative shall be seized, financial cooperation shall be expanded, the use of RMB in countries and regions along the Belt and Road shall be boosted, and the investment and financing service function of Shanghai's financial markets shall be improved; the financial coordination mechanism for the Yangtze River Delta shall be improved, so as to drive the accelerated development of the Yangtze River economic belt. The regional integration of the Yangtze River Delta shall be promoted, and the service capabilities of Shanghai International Financial Center shall be continually improved. --坚持以服务“一带一路”、长江经济带和长江三角洲区域一体化发展等国家战略为切入点。抓住共建“一带一路”倡议的重要契机,拓宽金融合作,促进人民币在“一带一路”沿线国家和地区使用,提升上海金融市场的投融资服务功能;完善长三角金融协调机制,带动长江经济带加速发展。促进长江三角洲区域一体化发展,不断提升上海国际金融中心的服务能力。
—Adhering to using a market-oriented, international, law-based, and information technology-enabled approach as the direction: Market-oriented financial reforms shall be resolutely advanced, and the decisive role of the market in resource allocation shall be maximized; a new pattern of two-way opening of the financial industry that is capable of effectively serving higher-level and open economy shall be built up, so as to improve the international competitiveness, influence and voice of China's economy and finance; and the framework of the legal, accounting, credit, regulatory and other systems for finance shall continually be improved, and efforts shall be concentrated on creating a more internationally competitive financial development environment. The trend of integration of science and technology with finance shall be followed, the leadership in development in the field of research on financial science and technology shall be gained, and financial science and technology shall be widely applied to comprehensively raise the efficiency and level of financial institutions, financial markets, and financial governance.
......
 --坚持以市场化、国际化、法治化、信息化为方向。坚定推进金融市场化改革,充分发挥市场在资源配置中的决定性作用;形成能够有效服务于更高层次开放型经济的金融业双向开放新格局,提高我国经济金融国际竞争力、影响力和话语权;不断完善金融法治、会计、信用、监管等制度体系,着力营造更具国际竞争力的金融发展环境。顺应科技与金融渗透融合趋势,实现金融科技研究领域领先发展,广泛应用于并全面提高金融机构、金融市场、金融治理效率和水平。
......

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