Study Of The Development And Regulation Of Private Banks In China

Finance is "an important component of the country",is the blood vessel of the national economy,and financial reform has been the most important part of restructuring the economic system.Since the 18th Communist Party of China National Congress,our country has further encouraged the development of non-public sectors of the economy and constantly deepened the reform of banking system.Starting from the pilot work of the first five private banks in early 2014,the curtain of the development of China's private banks has been gradually opened up.A total of 17 private banks were approved for preparation and operation as of December 31,2017.After four years,Chinese private banks have achieved a breakthrough from scratch and set off a round new reform tide of the privatization of commercial banks.At present,the development of China's private banks has possessed a good basis of political,social,economic environment and technology.However,as a new member of the banking system in our country,the development of China's private banks still faces a lot of problems,such as restrictive regulations,low level of social awareness,weakness of market competitiveness and risk prevention,poor ability of business development,corporate governance needs to be explored and so on.Therefore,the reform and development of private bank has become a hot topic in the theory and practice of finance.But,unlike the issues of "whether to establish a private bank or not,and how to establish?"as discussed in a great discussion by private banks over a decade ago,"on the basis of the existing banking system,how can the state promote the orderly establish process of private banks,and how private banks can develop healthily?," has become the current primary research issues.At present,China's research on private banks is not mature,and the theoretical basis is not solid enough,foreign literature available for study and reference are limited.Therefore,by studying the economic mechanism of the development and regulation of private-owned banks in depth,this paper explore the development path of private banks that suits China's actual economic circumstances and puts forward corresponding regulatory policy proposals,which has important theoretical and practical significance:In theory,this research enriches and perfects the theoretical basis of the inevitability for the development of private banks,which promotes the expansion of Marx's economic theory and the development of Institutional Change Theory in the financial field,thus helps to realize the innovation application of regulatory economics in the banking field.From the view of application,this research is conducive to the prospective reform of the top-level design of the state's financial system,the rationalization of the regulatory policies and instruments of the state regulatory authorities,and also the scientific management of Chinese private bankers.Based on the Marxist theory of monetary finance and modern financial theory,this dissertation,under the guidance of Marxist dialectic materialism,fully absorbs the theoretical essence of Institutional Economics and Regulatory Economics in western economics,adopts methods of normative analysis and empirical research,comparative analysis and case studies,qualitative analysis and quantitative research to study the development of China' private banking and regulatory mechanisms.Combined with the development history of China's banks and China's private banks,this paper analyzes the economic mechanism of the problems of China's private banks in the current development and regulation process.By collecting and disposing the indicators and data of the market structure of China's commercial banks,and also the indicators and data of the relationship between the development and economic growth of such China's private banks(joint stock commercial banks),we use the method of SCP paradigm and vector autoregressive(VAR)model separately,conducted quantitative empirical analysis and test for the necessity of China's private banks rationality of development and risk prevention.Make full use of the principle of the unity of contradictions and the particularity of contradictions,combined with case analysis,we carry on research for the access path,development strategy and market positioning of China's private banks,and then put forward some referenced development strategies.Through the method of comparative analysis,in-depth study has been carried out on the development and regulation of private banks in Japan,Taiwan and Russia.Finally,an effective regulation system for promoting the scientific development of private banks in China has been put forward.This paper is divided into four parts,a total of eight chapters.Part one:introduction and theoretical basis,which consist of the first chapter and the second chapter.The first chapter of the introduction mainly raises points of the research,why do we have to study the development and regulation of China's private banks?What is the political,economic,social and technological background for studying such issues,and what is the theoretical and practical significance?At the same time,the author researches five related topics at home and abroad by commentary as the following:the definition of private bank,the necessity for setting up private bank,research for development mode,market positioning,the regulation system and the required external environment.The comment of research actuality will also be given out.The second chapter is the rational part of this article,which introduces some of modern financial theory,Marx's economic theory,Institutional Economics Theory,Bank Regulation Theory as well as the content and thought,lays a theoretical foundation for thef further analysis.Part two:historical perspective and mechanism of action,which consist of the third chapter and the fourth chapter.The third chapter analyzes the evolution process of the development of China's private banks,from the perspective of the developmental history of China's banking industry.On this basis,we also analyze the main problems of China's private banks in the environment for development,in the process of corporate governance,supervision and management.Based on the effect of China's private banks development,form four economic perspectives:institutional change,Marx's economic thought,social welfare and bank regulation,the fourth chapter provide theory enlightenment for put forward the following suggestions for private banks:the admitting path,development strategy,market positioning and regulation system.Part three:the empirical study of the development of private banks and lessons of the overseas experience,which consist of the fifth chapter and the sixth chapter.The fifth chapter conducts an empirical analysis on the market structure of China's commercial banks and the impact of such private-owned banks(joint-stock commercial banks)on economic growth,and also studies the financial market environment for the development of China's private banks.In the sixth chapter,we make a deep research on the development and regulation of the private banks in Taiwan,Japan and Russia by using the method of comparative analysis,which are worthy of our reference.Part four:the construction of development strategy for private banks and the research on the improvement of the regulation system,which consists of the seventh chapter and the eighth chapter.Chapter Seven begin with the clarification of the general principle of access for private banks in China,put forward suggestions for path selection of realistically that the access path should be changed from the current "single incremental new mode" to the"complex incremental and stock reform new parallel model".Subsequently,the path of location promotion of incremental new mode is designed,which point out that it should shift from "the development of economically developed location with priority" to "treat equally without discrimination nationwide".While the path of location promotion of the stock reform mode should give priority to the development of economically underdeveloped central and western regions.Finally,put forward referential suggestions for the development strategies and market positioning of private banks at different stages.The eighth chapter proposes some policy recommendation from the following three aspects:perfecting the admittance mechanism of private banks,aggravating the responsibility of shareholders and improving the exiting mechanism of banks,hoping to provide theoretical basis and policy suggestions for the further deepening reform of financial system and for promoting the healthy development of China's private banks.The main innovations of this article are reflected in the following three aspects:Firstly,innovation of research perspectives.This paper through a Cournot model,which based on the socialization of capital between state-owned banks and private banks,carried out theoretical analysis.At present,the analysis method of this model is only being used to state-owned banks and private banks in China.In this paper,the theoretical analysis that based on the game model between bank regulator and private banks are used for the first time in China.At present,this method is only being used to analyze the relationship between bank regulator and banks.Secondly,innovation of research tools.This paper carefully selected four representative research samples:a private bank that is in preparation for its declaration of establishment,a private bank that has been approved for its establishment,a private bank,which not only was the first one but also the one with the highest internet financial gene,with characteristics of the traditional business of public deposit and loan.By the following means to grasp the first-hand information,such as site inspection,give reports to the company,interviews with executives,communicate with every department,data collection and so on.Thirdly,innovation of the conclusion.As for the paths of admission for private banks,this paper proposes a practical proposal for the path selection that is change from the" single incremental new mode" to the "complex incremental and stock reform new parallel model".Subsequently,put forward that the path of location promotion of incremental new mode should be shift from "the development of economically developed location with priority" to "treat equally without discrimination nationwide",While the path of location promotion of the stock reform mode should give priority to the development of economically underdeveloped central and western regions for the firrst time in China.In terms of development stategy and market positioning,this paper proposed that we should take a dynamic,various and long-term perspectives and attitudes that allows private banks to play different roles:in different development phases and stages.With the development ideas that private banks have difsferent identities,play different roles and have different function,thus we can maximize the development of china's entire banking industry.Due to the author 's learning ability and theoretical knowledge are limited;there is insufficiency in this article as the following:Firstly,the lake of depth in integrality and systematic economics analysis.Secondly,theoretical analysis takes up too much space,while less was used to validate the validity with factual data.Thirdly,empirical methods are not enough cutting-edge and advance.The above deficiencies will be developed and improved in later research.