BEIJING, Sept. 29 (Xinhua) -- East China's Shanghai free trade zone (FTZ) will continuously advance financial reform and focus on the objective of building Shanghaiinto an international financial center, the Shanghai Securities News reported on Thursday.
The Shanghai FTZ will actively make the yuan freely convertible under the capital account and study further two-way opening-up of the capital market by leveraging on the free trade account. It will bring forth innovative foreign exchange management systems and gradually relax restrictions on cross-border capital flows, said Zhang Xin, deputy director of the Shanghai Head Office of the People's Bank of China.
It will build a unified sharing financial comprehensive monitoring and analysis center to monitor cross-border, cross-market and cross-industry financial risks in real time and continuously promote pilot financial comprehensive supervision.
Meanwhile, the Shanghai FTZ will further advance opening-up of the financial market, based on experiences in running the international board for gold transactions and the "Shanghai-Hong Kong Stock Connect". It will accelerate construction of an international energy center and roll out crude oil futures at proper time.
Moreover, it will rely on the free trade account to build RMB capital pools to provide domestic investors with stable investment channels and orderly guide the world'sabundant liquidity into China's real economy, said Zhang. (Edited by Hu Pingchao, hupingchao@xinhua.org)
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