By Sun Fei, Research Team on “International Financial Landscape Changes and China’s Strategic Options” Research Institute of Finance, DRC

Research Report, No.181, 2018 (Total 5456) 2018-10-29

Abstract: The international financial crisis that erupted in 2008 has not only pushed forward the diversified development of international monetary system and triggered changes of financial strength of various countries, but also accelerated the reform of international financial institutions and propelled the construction of the global financial safety net, causing major adjustments in the international financial landscape. Meanwhile, global financial risks are piling up and the possibility of a major financial crisis in the near-mid-term is increasing. On the one hand, China needs to seize the opportunity brought out by the restructuring of the international financial architecture since the outbreak of the financial crisis, accelerate the internationalization of RMB and move faster to build Shanghai into an international financial center. In addition, China also needs to participate in the reform of international financial governance proactively and improve its status and gain a bigger say in the global financial system. On the other hand, it is necessary for China to speed up the construction and improvement of prudential and behavioral supervision systems conforming to the internationalized operation of domestic financial institutions, strengthen coordination and coordination among regulatory authorities and establish policy systems to prevent and cope with a new round of financial crisis.

Key words: financial crisis, international financial landscape, crisis relief