The full text of the "Shanghai International Financial Center Development Offshore Financial Action Plan" has been released.

The "Action Plan" proposes that by the end of 2027, a preliminary establishment of a system of rules, risk management and disposal, and business environment suitable for offshore financial business will be established, based on the forefront of digitalization to explore offshore financial business, better serving enterprises' "going global"; By the end of 2030, a relatively mature offshore financial system and legal system will gradually be formed, providing safe and reliable financial services for China's enterprises to continue international investment and trade, conducting tests for the reform of the onshore financial system, and effectively supporting the development of the renminbi asset global allocation function and risk management function; By the end of 2035, it will become a strategic hub for high-level coordination and development of offshore and onshore areas, leading the country's high-level opening of the financial industry and high-quality development.