The Theoretical Research And Empirical Analysis Of China's Financial Supervision

China's financial supervision is developing with the China's reform and opening up as well as the gradually establishing and improving of the socialist market economy. Especially in recent years when The pace of China's financial reforms and efforts be further intensified, Financial supervision has played a very important role in ensuring the smooth progress of financial reform , protecting the effective operation of fiscal policy and raising the level of financial management. But that should not be overlooked in the development of the cause of the financial supervision, financial supervision and theoretical research but lags behind. Most of the existing financial supervision and theoretical research are essentially qualitative study, this paper is the work of quantitative research of China's financial supervision, with a view to the future of financial supervision and provide a reference.The author has 20 years of practical work experience of financial Supervision and Long-term research of the theory of financial supervision. During the study Dr., the author participated in the theoretical discussions of financial oversight issues Organized by the Ministry of Finance many times, completed a number of thematic studies for the Ministry of Finance, published articles on theory and practice of China's financial supervisory work. Under the guidance of Yi Zhang Shan mentor ,author focused on applying Quantity Theory of Economics to analysis and resolute Financial oversight issues for the future work.This paper is divided into seven chapters:The first chapter on the study of the causes and background of the domestic and foreign scholars on the status quo, the focus on financial supervision and difficult issues, the weak links of the analysis of domestic and foreign scholars , the innovation of financial supervision in this paper.The second chapter investigated the development of China's financial supervision history, China's existing financial oversight bodies set, financial oversight responsibilities and powers, a brief presentation on the foreign financial supervision, the achievements and problems of China's financial supervision are analyzed.The third chapter is the theory of financial supervision and analysis focuses on the supervision of the financial foundation in reality, the conditions for the development of financial supervision, the cost - benefit of the financial supervision has been undertaken.The fourth chapter China's financial supervision at this stage is the main content. China's financial supervision is with the content of the reform process changes and continuous changes in the content of financial supervision and decision factors are continually changing, the financial supervision methods are constantly changing, the next step lay the foundation for the analysis.This thesis research focuses on the five, six chapters.The fifth chapter is Empirical Study of the supervision of China's financial revenue,The sixth chapter is Empirical Study of the supervision of China's financial expenditure, Mainly use quantitative Economics smooth test methods, Granger causality test, Cointegration, cluster analysis methods and methods of game theory, empirical analysis of China's fiscal revenue and expenditure situation at this stage and using Empirical Study the reality of financial supervision.The seventh chapter is the concluding part, is based mainly on the theoretical analysis and empirical research of financial supervision to clear financial supervision in the future and how to focus on the financial supervision reform in the new plan.Based Empirical Study , use physical inspection data empirical analysis the main features of China's fiscal revenue and expenditure in recent years as well as the features of Supervision monitoring of the current revenue and expenditure, The main conclusions are:(1)Revenue occupies a pivotal role in China's economic development, the Financial income supervision is of great significance. China's tax revenue is the main source of financial revenue, the influence of value added tax, business tax and enterprise income tax is growing, value added tax has the greatest impact, revenue supervision must work under the regional economic development and focus on tax . For example, amount of revenue of Guangdong, Shanghai and other coastal areas is tremendous, the financial supervision in these areas focus on the main income; The three provinces in northeast China ,during the the "value-added tax" in transition, there are some new revenue impact in these areas, strengthening the supervision of individual provinces which has special policy. In addition, since the non-tax revenue accounted the gradually increasing proportion of revenue arouse enough attention and put in more resources gradually. Income from non-regulatory structure, with time, local non-tax income pay faster than the amount of the local supervisor work on the spot is playing an increasingly larger role, therefore, income supervision should focus on the spot.(2) China's government functions mainly on the macro-control of economy and the management of various social undertakings, in accordance with the existing financial expenditures can not meet the actual needs and the structure of financial expenditure was not reasonable. Thus, to increase the proportion of financial expenditure, and increase transfer payments to vulnerable groups, in support of efforts to ensure social stability and long-term economic development; While appropriate adjustment of the financial expenditure structure, increase social security and compassionate relief, education health, agriculture expenditures policy-related subsidies and other expenses, compression administrative fees. With a gradual increase in fiscal expenditure and expenditure restructuring, fiscal expenditure should then focus on the supervision of the transfer, and strengthen supervision and administration costs, further improve the supervision of the department budget, and gradually expand the scope of audit of the department budget, accelerate reform of the system of centralized treasury payment to ensure that financial expenditure funding the security, legitimacy and effectiveness. Looking at the overall pattern of regulation, because of China's fiscal expenditure problems are more concentrated in the provinces of the three northeastern provinces and the central and western regions, therefore, expenditures must focus on the supervision of the three northeastern provinces and the central and western regions and less developed economy, the central financial transfer payments more areas.The innovation lies in the article : Use commissioned - Acting on the theory of financial supervision to the theoretical analysis, analysising the foundation in reality of financial supervision, Through the use of the principal-agent theory analysis concludes: Let the effective functioning of the public finance system, achieving increasing revenues and reducing expenditures, reasonable distribution of social resources, the financial sector must be given to oversight functions as well as establish and improve an effective supervision mechanism. Therefore, the government has yet to resolve the question of the agent system, in order to ensure maximum effectiveness of public finances, only rely on the establishment and strengthening of financial supervision, and improve the implementation of stringent internal and external oversight mechanisms. To strengthen and improve the financial supervision mechanism to maximize ease clients and agents asymmetric information, to better address members of the society and the government, agents between government departments and various government functions , to reduce or limit the loss and harm caused by Information asymmetry into the minimum and ensure the rational use of public resources, public expenditure to achieve the maximum effect, To ensure rational use of public resources, public expenditure to achieve the maximum effect. This is the first using quantitative analysis of the economics methods for the quantitative analysis and empirical research of financial supervision based on the results of analysis, Combining the reality of the work, Proposed the authority future work of Financial Supervision and envisaged of how to focus on fiscal reform in the financial supervision work.