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Author	Asst Prof Steven Chen Yao
Organisation/Institution	Shanghai University of International Business and Economics
Country	CHINA
Panel	Banking and Finance
Title	The Construction of Offshore Financial Legal Systems in Emerging Countries: Global Perspective and China's Approach
Abstract	Offshore finance is an "offshore space" for the free flow of international capital created by modern countries through the national authority in the financial field, which is in response to the trend of economic globalization. This article focuses on emerging countries within the global financial system and points out that the traditional institutional elements of offshore finance, such as the confidentiality norm and tax haven, cannot meet the market needs of financial institutions and investors. The reform of the rule of law order in commercial finance will become the focus of competition in the offshore financial systems of various countries. The global offshore financial system is undergoing a paradigm shift from "tax havens" to "legal new zones". This article explores the establishment of a systemically open institutional framework for China's offshore financial market from four dimensions: currency, companies, regulation, and judiciary. It aims to "produce" the most internationally competitive commercial financial legislation, regulatory standards, and judicial rulings at the institutional supply level.
Biography	Dr. Steven Chen Yao is an Assistant Professor at School of Law, Shanghai University of International Business and Economics. His research concentrates on Financial law, Commercial law, and International Financial Law. His scholarship includes offshore finance, cross-border finance, protection of China's overseas financial interests, and global financial governance. His research findings were presented at international conferences such as the Second Forum on Foreign-related Rule of Law. Steven is a Research Fellow at the China Institute of Financial Law, Fudan University. He has undertaken a number of research projects in the fields of offshore finance, financial sanctions, financial market infrastructure, and commercial arbitration, etc. His academic achievements have won the first prize for outstanding papers from the China Banking Law Society in 2024. Steven earned his Doctor of Legal Philosophy from the School of Law, Fudan University. His doctoral thesis won the Excellent Doctoral Dissertation Award of the Law School of Fudan University. Steven received his master’s degree of jurisprudence from East China University of Political Science and Law.