Study On Banking Supervision Thoughts In Modern China(1897-1949)

Finance industry is the core of the economy,and the bank industry is the main part of the financial industry,the safety and stabilization of the banking system is in relation to the healthy development of the whole economy and financial industry.In this case the subject of“enhancing banking supervision” is paid more and more attention and focuses from theory and practice fields.How to effectively enhance banking supervision? Besides the theories and experiences from foreign countries,it is also traceable from China's own history development track.This article is aiming at making a systematic collation and conclusion of banking supervision thoughts in modern China to cover the shortage of domestic academic researches on this field.With the citation from history,serving the present,evoking the future,this paper reveals and analyzes the evolution rule of banking supervision thoughts in modern China so as to provide guidance and helpful reference for the perfection and innovation of banking supervision theories and system with Chinese characteristics.There are five chapters in this article.Here's the outline:Chapter one is the introduction.In this chapter,the author focuses on the significance of the subject and introduces the domestic research status.In order to demonstrate the issue clearly,the research subjected is limited in four dimensions —connotation,time,content and representative.At the same time,it illustrates the research ideas,methods,innovative points and disadvantages.Chapter two,three,and four respectively discuss the banking supervision thoughts during late Qing Dynasty period,Beiyang period,and Nanjing Government period.Each chapter analyzes the historical background of generation or development of supervision thoughts as the breakthrough point analysis in each period.With three main bodies of governors,circle of theorists,and banking industry,it combs the advocacy of supervision ideas.Then by demonstrating the latest development of regulatory practice to analyze regulation thoughts and practices of interaction,meanwhile with the development of western banking regulation as a reference at the same period to analyze and find the law and the insufficiency of the development of China's banking supervision,finally,makes a comment and analysis in history eyesight.The author thinks that In addition to the affection by the western,Chinese people including government officials,academics and industry,have theirown view and contributions on banking regulation.So the three main body are regarded as criteria of classification of banking supervision and selection of representative in this paper.In the late Qing Dynasty,since bank supervision was introduced as a novelty from western,people had a preliminary understanding to the banking supervision and discussed around whether banking should supervised.Some government liberals early contacting with the western concept first standed in the historical tide,and begin to pay close attention to and think issues about bank supervision.The Qing Government officials such as Zaize,Qianxun and the Westernizationists officials such as Sheng Xuanhuai,were important representative of them.The Minister of Finance—Zaize,which was one of the five ministers going abroad toinvestigate,expounded views on bank supervision more comprehensively and systematically.The founder of China merchants bank—Sheng Xuanhuai had more deep understanding onbank regulation by thinking on the case and crisis in the management of this bank.At this point,since the western banking system had just been introduced and the domestic Banks started soon,academia and the industry had not been more attention on bank regulation,only a few scholars(e.g,Ronghong)and social insight(e.g,Weiyuan,Zheng Guanying)thinked and discussed about this.People began to realize the importance of bank regulation in the late Qing Dynasty,which complied with the trend of the economic and social development at that time.In Beiyang period,Chinese people had more practice and reflection on bank supervision,with deeper understanding,but with appearing divergence,and turned to discuss and focus on issues of the regulatory validity.At this point,the domestic had a relatively independent and deep understanding on banking regulation,a host of scholars with theoretical foundations and some bankers began to board the stage of history.Academic circles had challenged regulation effect by government,Xu Cangshui,Mingli,XuYongzuo,Wang Xianmo,Ziming,and so on,comprehensively expounded the banking regulation by opening Bank Weekly and publishing a large number of articles.The bank industry dissatisfied with and even to resist government supervision,such as Zhang Jiaao,wich was the vice-President of the Bank of China,and the national association of Banks and Shanghai,Beijing association of Banks and so on,put forward different opinions from the perspective of safeguarding the interests of bank as the whole.Meanwhile,the ministry of finance and some treasury officials such as Chen Jintao,Zhou Xuexi,Liang Qichao,Cao Rulin,Yao Chuanju,also put forward their ownunderstanding.In Beiyang period,banking supervision thought developed in depth,which adapted and promoted development and progress of economic and social.In Nanjing period,With the advent of the era of strict control,as well as influenced by the thoughts of international interventionism,government officials,academia and industry began to have relative uniformity and common understanding on strengthening bank regulation,and had deeper and more profound discussion on the necessity and availability of bank regulation.Government,including the ministry of finance and officials such as Song Ziwen,Kong Xiangxi,Qian Yongming,constantly enriched the banking supervision thought in the regulation practice.Academic aspects,a group of scholars such as Ma Yinchu,Ding Hongfan,wrote a large number of theoretical articles.Industry—the national association ofBanks and Shanghai,Chongqing,Beijing,Tianjin and other local bank association stated the view on banking supervision in the form of proposals or bill many times,which enriched the banking supervision idea.In Nanjing period banking regulation thoughts gradually matured,reaching the highest point of the development in modern China.Chapter five is the conclusion and enlightenment.The conclusion is: banking industry in modern China started with government's unconscious management,transformed into severe governmental control,and brought all unsupervised institutions into supervised ones.Supervision thoughts mixed with the needs of domestic economic and society and the impacts from western banking management theories.Along with the principal line of “why to supervise,who to supervise,whom should be supervised,and how to supervise,” Supervision thoughts in modern China achieved innovative development in the process of collision and gradual integration with supervision exercises.It's giving us the enlightenment that we need to attach importance to supervision on bank risks and keep improving regulatory measures whenever,establish the supervision subject management structure combining with the China's national conditions,and pay attention to mix permanently and combine organically the supervision exercises with supervision thoughts.This article attempts to create new sights of viewpoint,methods,and content.In viewpoint,it forms systematic results through organizing existing historical data of thoughts,deeply digging through new historical data of thoughts,and reorganizing and refining them,in order to make up for the defect of lacking of systematic summarization and monographic studies on this field.In methods,by combining the time-ordered horizontal essay methodswith vertical comparison methods against western banking supervision development in the same period,this article tries to bring a subjective conclusion within certain time and space.In contents,based on the analysis and classification of supervision thoughts from three different subjects,namely governors,circle of theorists,and banking industry,it is more clear to show and compare the difference and similarities of thoughts in different parties as well as their evolution,thus deeply displaying the regularity and characteristics of banking supervision thoughts in modern China.