Deng   Zhichao,  invited researcher, graduated   from the international finance major of the World Economics Institute of the   Shanghai Academy of Social Sciences, and is currently an assistant researcher   of the World Economics Institute of the Shanghai Academy of social sciences.   His main research interests are international finance, monetary policy,   macro-economy, financial market and regulation. The main achievements   include: developing Chinese funded offshore banks, influencing factors of   foreign exchange loans from the perspective of cross-border arbitrage of   capital - Empirical Research Based on 2002-2017, empirical research on   Influencing Factors of panda bond issuance interest rate, comparative study   of free trade account and multi account system, and monetary policy   transformation from the perspective of economic rebalancing.