PROGRESS IN GEOGRAPHY ›› 2017, Vol. 36 ›› Issue (6): 709-719.doi: 10.18306/dlkxjz.2017.06.006

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Development and implications of the offshore financial center in the British Virgin Islands

Guangwen MENG1,2,3(), Yuanyuan ZHAO4, Han LIU5, Chunzhi WANG2,3, Jingyuan ZHAO2,3, liya LI2,3   

  1. 1. Institute of European Civilization, Tianjin Normal University, Tianjin 300387, China
    2. College of Urban and Environmental Science, Tianjin Normal University, Tianjin 300387, China
    3. Institute of Free Economic Zone, Tianjin Normal University, Tianjin 300387, China
    4.Tianjin Ziya Circular Economy Area, Tianjin 301600, China
    5. Xinyang University, Xinyang 464000, Henan, China
  • Online:2017-06-20 Published:2017-06-20
  • Supported by:
    The Key Entrusted Project of 2016 Tianjin Philosophy and Social Science, No.TJZDWT1602-01;The Project of Integrated Innovation Team of Tianjin Normal University


To provide experience and case support for the financial innovation of the China Pilot Free Trade Zone and financial geography research, this article analyzes the development process from "tax haven" and spatial agglomeration, primary offshore center and spatial reorganization, to developed offshore center and strengthening of spatial agglomeration of the British Virgin Islands by literature review and case study. The study showed that the international political and economic environment provided the possibility for the establishment of the offshore financial center, the unique natural and cultural-economic conditions provided the basis for the establishment of the offshore financial center, and the continuous improvement of laws and regulations guaranteed the sustainable development of the offshore financial center. Based on this analysis, China should actively explore the feasibility and implementation plan of establishing separation-infiltration type offshore financial centers in the free trade zones in Shanghai, Guangdong, Tianjin, and other places, and establishing a tax haven offshore financial center in Sansha City, South China Sea; gradually improve the policy and legal system; and effectively control financial risks

Key words: free trade zone, offshore finance, tax haven offshore financial market, dynamic factors, the British Virgin Islands