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Greatly Upgrade China’s Status in the International Financial System


By Zhang Liping & Fu Shuaixiong, Research Team on “The Opening-up Strategy of China with the Support of a Remarkably Strengthened Economy” of DRC

Research Report No.24, 2016 (Total 4907) 2016-3-18

Abstract: Finance is the core of modern economy. In recent years, China has become the world’s second largest economy, number one trading country and a net exporter of capital. But compared with these progresses, China has just made a start in upgrading its international economic status by way of capital operation. Now that China has entered a special historical period of new normal and is facing the task of establishing a well-off society in an all-round way, upgrading the status in the international financial system has become an inevitable choice for China’s international economic status improvement. It also provides a necessary guarantee for domestic economic transformation and upgrading which will be realized through global market expansion, global resource allocation and cross-border transfer of value chain. The national status of a nation in the international financial system boils down to three aspects: domestic currency’s international status, national status in the international financial governance system and national competence of exerting influence by using national capital. This report analyzes China’s international financial status from three aspects: RMB internationalization, China’s role in international financial governance system, and capital operation condition in China. In conclusion it raised relevant policy options.

Key words: opening-up strategy, international financial system, national status