Paper Market In The Credit System Under Study

According to the viewpoint of the china's financial field, the finance market consists of money market and capital market which we call stock market. In our country, we pay more attention on capital market than money market espcially its base----negotiable instrument market which is not only the base of the money market but also the whole finance system. The western countries have a good negotiable instrument market system. The negotiable instrument market and other sub-money market constitute the whole money market which is a organic part the whole finance market. The aim I study the developed nations's negotiable instrument market in my thesis is to to find the law of negotiable instrument market development and to help china's negotiable instrument market development. There are five parts in the thesis, namely the introduction and other four chapters.In the introducion, I intrduce the object of the thesis, explore the necessisty to further china's negotiable instrument market and analyze the characteristics and the innovation in the thesis.Chapter one is on the conceptions of credit and negotiable instrument and their history. First, by analyzing the psychological bedrock, I think there are two conceptions of credit in broad and narrow senses.The credit in broad sense is the willpower and ability that two or more ecnomic subjects have for some kind of economic aim and is based on honesty basement. In another word, the credit in a broad sense is a wordkeeping behavor that is based on some psylogical phenomenon..Credit in a narrow sense is money lending which is a kind economic phenomenon.Second, the thesis introduce negotiable instrument in a general way,which include the negotiable instrument's meaning, extension, characteristic, sort and function. Last, I analyze the negotiable instrument's history of genesis and evolution in china and in other nations. The thesis firstly study the history of negotiable instrument in china including some kinds of negotiable instruments in anciant china, latterday burse and negotiable instruments before liberation, then analyze the bill and promissary note in western nations.In chapter two, I discuss western negotiable instrument market and rediscount policy. First, I discuss the orientation of negotiable instrument market in finance market. Second I discuss the relationship between negotiable instrument market and rediscount policy: negotiable instrument market is the base of discount,discount is the base of rediscountl. Third, I discuss the status quo and direction of western nation's, study the conditionss in England ,America, Japan, Germany and european. In this part,　I made great attention to US--commercial paper market. Four, study the the experiences and ways of how western developed nations use the rediscount policy. Five, we can get some suggestions from the westren developed nations. Western nations' experience and ways can give some suggestions, which help us develop china's negotiable instrument market easily. We can learn something from other countries, but we cann't do as they did. The situations differ from nations, there isn't the same kind ways we can use.Chapter three, I study the status quo, problems and reason of the china negotiable instrument market. First, I review the course that the china negotiable instrument market has passed and the status quo that the china negotiable instrument market is at. After liberation, our nation carried out planned economy, there was neither commerce credit nor commercial negotiable instrument. After reform and opening-out, with the development of commerce economy and the use of commerce credit, the negotiable instrument becomes more and more important and the negotiable instrument market made great progress. At present, negotiable instrument market enters it's fifth stage. Second, I study the problem in structure, risks and law of the negotiable instrument market. The time for china to develop negotiable instrument market is very short , so it is very natural that there are many problems in china's negotia...