Study Of China's Financial Risk

Chinese economy has been developing rapidly since reform and opening-up to the outside world, but at the same time the Chinese governmental debts have been expanding continuously. Especially Since implementing positive fiscal policy in 1998, 910 billion national debts have been issued continuously in 7 years, which caused the amount of Chinese governmental debts to expand sharply. In this situation, whether Chinese governmental debts will bring fiscal risks or not becomes the focus in academia, and also brings research upsurge. But up to now, whether Chinese governmental debts come into being fiscal risks or not, if coming into being, how much the risks are, the scholars don't attain agreement about these. The scholars only analyze what the reason the various governmental debts gather and how to solve them. The deep researches on institutional arrangement of economics system transformation are scarce. So we should evaluate accurately the degree of Chinese fiscal risks, research deeply on the generating mechanism of them from institutional arrangement of economic system transformation, and propose relevant policy recommendation, which are important to prevent and solve fiscal risks and keep fiscal continuity.This paper researches on Chinese fiscal risks in combining abstract method with positive method and normative method. Firstly it researches on the transformation mechanism from private risks to public risks and the generating mechanism of the public risks in abstract method, and brings forward the frame which can evaluate the fiscal risks. Secondly it evaluates the degree of Chinese fiscal risks and analyzes the generating reason of Chinese fiscal risks in positive method. Finally it suggests the countermeasures which should be taken to prevent and solve fiscal risks in normative method.There are totally 7 chapters in the paper: the chapterl is preface, the second is review of fiscal risks theory of Chinese and overseas scholars, the third is the evaluation frame of fiscal risks, the fourth is evaluation of Chinese fiscal risks, the fifth is analysis of the reason of Chinese fiscal risks, the sixth is how to t prevent and solve e Chinese fiscal risks, the seventh is conclusion.The main conclusion and innovation of the paper:(1) The paper researches completely on the transformation mechanism from private risks to public risks and the generating mechanism of the public risks. Although there are some researches on the mechanisms in Chinese and overseas academia, but they are scattered in insurance and finance studies etc, have not been...