| Summary: | This paper analyzes the status quo of financial supervision in the Northeast Asia Free Trade Zone and finds that the coordination and cooperation of financial supervision in the Northeast Asia Free Trade Zone is in the exploratory stage. There is room for cooperation in financial supervision, which creates conditions for the implementation of the "supervisory sandbox" in the region. It demonstrates the significance of introducing the “regulatory sandbox” model in the Northeast Asia Free Trade Zone from three aspects: balancing financial innovation and supervision, promoting the realization of inclusive finance, and improving the global shared supervision database. Build a relatively complete "supervision sandbox" operation process design. Finally, the countermeasures and suggestions for the introduction of the "supervisory sandbox" model in the Northeast Asia Free Trade Zone are proposed.
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