Research On The Legal System Innovation Of Rural Financial Cooperatives From The Perspective Of The Right To Financial Development

The right to development is a kind of basic,new and comprehensive human rights.The farmers’ right to financial development relies on the right to development as source,the farmer as subject,finance as object.The farmers’ right to financial development is the deepening of the theory of the right to development,which is based on financial inclusion as ethical foundation,substantive justice as value orientation.The farmers’ right to financial development subordinate to the right to financial development.The farmers’ right to financial development belongs to civil right to financial development,which has equal status and interactive game with national right to financial development.The realization mode is the overall right and the aim is the individual right.The farmers’ right to financial development is based on endogenous rights to promoting financial development from the market,exogenous rights to promoting financial development from the government as a supplementary.The legal nature of the rights belongs to economic law,which has the characteristics of both public right and private right.The farmers’ rights to financial development has profound connotation,including five aspects: main body right to financial development,free financing right,fair financing right,cooperative financing right and the relief right to financial development.Among them,main body right to financial development is the premise and foundation.Free financing right,fair financing right and cooperative financing right can be known collectively as the financing right,is the core and key.The relief right to financial development is the guarantee.Researching on the legal system innovation about Financial Cooperatives from the perspective of the farmers’ right to financial development,can effectively solve the problem “how to protect the right to development in domestic law”proposed by the international communit,can create a precedent for the embodiment and specific law protection of the right to development.The farmers’ right to financial development reflects the new right claim and institution supply in the pursuit of their own financial development rights and interests as a special group under the circumstances of urban—rural dualistic structure,is the reflection and deconstruction on the traditional financial law led by financial efficiency and financial security,and eventually helps to the perfection and renovation of the traditional financial law fromlegislative concept,value,regulations and system.According to Nexus’ s “vicious cycle of poverty theory”,The imbalance of the urban and rural economic development in developing countries,is embodied on the ability of the physical capital gaining.Funds become shortcomings and the key to the development of the farmer.In the financial market environment,Farmers are the vulnerable groups for their lack of suitable collateral and stable income,high operation risk,shortage of financial infrastructures and adequate credit culture.If the full criteria and objectives of financial operations are carried out in accordance with the rules of market economy and commercial financial institutions involved in financial markets and financial activities,outflow of rural financial resources and fail to achieve the farmers’ right to financial development is inevitable.As a fund mutual aid and joint credit organizations,It has following characteristics : the property right belongs to the farmer,the management system is democratic,the legal form is non-profit corporation,the capital operation is limited within the community,the purpose is mutual aid,which is a natural fit with the farmers’ right to financial development.They have the same goal and value orientation,mutually reinforcing implement mechanism.Currently,the status of China’s Rural Financial Cooperatives can be summarized as follows: Rural Credit Cooperatives as a representative of the traditional rural cooperative finance embarked on the development of the joint-stock revolution because of lacking legislative regulation.Rural Funds Mutual Aid Organizations as the representative of the new rural financial cooperative are facing high barriers to entry in law and overly stringent financial regulation in practice,which makes them lack of sustainable development and universal establishment.Many informal financial cooperative organizations represented by various forms are in the grey area because they are not recognized by the law.The characteristics of particularity,long-term and complexity of rural financial cooperatives determines the urgent need of legalization.Combing and analyzing current laws and regulations of rural financial cooperatives in China,we find that:From the level of legislation,there is no professional “Financial Cooperative Law”,financial cooperative legislation is given priority to departmental ordinances and normative documents,the legal effect is low,the stability and authority are still not enough.From the legislation model,Most legislations are unified with those of the commercial banks or with referenceto the legislation of commercial banks,there is no specific legislation.From the perspective of the nature of legislation,there are mostly financial regulation with the nature of public law,and few financial protection with the nature of private law.Judging from the contents of legislation,although including market admittance,business operation,organizational management and financial regulation,we still lack the recognition and respect for the rights of membership and the autonomy of the financial cooperative organizations.Judging from the value orientation of legislative,financial security and financial efficiency is regarded as a criteria,while financial fairness went unnoticed.Examining the alienation on rural cooperative financial development path from the perspective of the right to financial development,it has both the general laws of financial cooperatives,and the characteristics of the financial system reform in China.More important is the legislation idea,pattern,nature,value orientation and contents deviating from the farmers’ right to financial development.This paper follows the logic of "Research argument-Angle Selection-Object Defined-Status Viewing-Experience Learning-Value update-Law Innovation",Accords with the train of thought “what is the financial cooperative and what is the status of rural cooperative financial development in China?—Why the development of the cooperative finances demand legislation and why the laws and regulations concerning rural cooperative finance in China deviate from the farmers’ right to financial development?—How to innovate the legal system concerning rural financial cooperatives to fit with the protection of the farmers’ right to financial development.Applying normative analysis,value analysis,comparative analysis and empirical analysis,Through tracing back to history,examining reality,learning foreign legislation.On the basis of the farmers’ right to financial development,following financial fair value,adopting the problem-oriented method,supported by empirical research,the paper innovates legal system on rural financial cooperative in China from five aspects: the market admittance and retreating system,the legal system of property rights,organizational management system,the legal system of financial supervision And the protection of rights and interests of members.