Shen Wei is Dean and Professor of Law at Shandong University Law School; PhD (LSE), LLM (Cantab), LLM (Michigan), LLM & LLB (ECUPL). He is a lawyer qualified in New York practising for a decade, mostly in Hong Kong, on foreign direct investment, private equity and mergers and acquisitions. His main research interests include financial regulation, corporate governance, international investment law and commercial arbitration. Professor Shen has published more than 130 articles in Chinese and English journals, and is the author of the books: Rethinking the New York Convention – A Law and Economics Approach (Cambridge: Intersentia 2013), The Anatomy of China’s Banking Sector and Regulation (Wolters Kluwer 2014), How Is International Economic Order Shaped? – Law, Markets and Globalisation (China Law Press 2014), Corporate Law in China: Structure, Governance and Regulation (Sweet & Maxwell 2015), and Investor Protection in Capital Markets – The Case of Hong Kong (Sweet & Maxwell 2015). Professor Shen is an arbitrator with Hong Kong International Arbitration Centre, Shanghai International Arbitration Centre, Shanghai Arbitration Commission, and Shenzhen International Court of Arbitration. He is also the Global Professor of Law, New York University School of Law, and Adjunct Research Professor at the Centre for Banking & Finance Law (CBFL), National University of Singapore.
The Future of Financial Integration in Asia: Renminbi’s Internationalisation, China’s Institutional Build-up Efforts and Financial Centers’ New Competitive Frontier
China aims to create a Renminbi zone by encouraging the use of Renminbi as a reserve currency, a unit of settlement for trade and a store of value for investors in securities. Along with these efforts is China’s attempt to create a Renminbi-centric financial system by setting up global or regional institutions to mirror the current multilateral framework that governs the global financial market. Meanwhile, financial centers are spotting the potential offered by Renminbi to improve their competitive positions in the post financial crisis era. Major financial centers such as Singapore, London and Hong Kong are making aggressive moves to gain market share in lucrative Renminbi trading. This research project not only tries to understand China’s strategy in the field of international monetary and financial market as well as its implications but also discusses how these financial centers interact with China’s Renminbi international strategy with the aim of building up a strong offshore Renminbi hub.
