| This thesis is a research on the three chief policy banks in China: Country's Bankfor development, Bank of Import & Export, Bank for Agricultural Development.The aims of the establishment of policy banks are: First, to separate policy financialbusiness from the four chief specialized banks so as to relieve their burden and turnthem into state-run trade banks. They will therefore be more adaptable to the construction ofsocialist market economy and better prepared for the challenges from foreign capitalbanks after China's entry into WTO; Second, to realize the relative independence inpolicy fiscal investment and financing circulation so as to guarantee the capitalresources for key state construction projects and to actualize the aims of state industrialpolicy. In some sense, the establishment and perfection of policy banks is a key factor inthe tarn for mation of specialized banks to trade banks and is also the foundation of thepioneering work in fiscal investment and financing circulation system and of the reformin financial system in China.Policy banks are the product of the reform of economic system and fiscal investmentand financing circulation system. Although they meet the needs of the transition fromthe new to the old economic system, it still has large historical limitation. During thisperiod, state-run policy banks form their management system and behavior according toChina's national conditions. But with the maturity of market economy and thedevelopment of the reform in economic and financial system, risk problems withinstate-run policy banks will be more obvious. Therefore, it is necessary to analyze andstudy the management system and behavior of China's Policy banks in their investingand money circulating activities. This will help to establish a centralized policy banksystem with financial support and to perfect management system of policy banks andavoid following the same old road to ruin of the four chief state-run specialized banks.Research methods: 1) Combined theoretic and practical analyses. This thesis triesto analyze the differences between self-run and agent systems in the administration ofpolicy banks with exchange cost theory. It uses entrustment-agency theory and reversechoosing and moral risk theory to analyze the disadvantages of first-degree corporationsystem, "third-degree administration and first-degree management" system and itsconsequent "internal monopoly". It also use a cargo amount of historical facts,documents, and statistic materials to illustrate and discuss problems concerned. 2)Combined analysis and generalization. Analysis of the birth, devQlopment, andoperation of policy banks is indispensable to this appreciative research paper. Itgeneralizes and concludes on this basis t11e deveIoping regularity of policy banks, theprocess and methods of investing and money circulating activities.Structure: ChaPter One "preface"; Chapter TWo" Tl1e modes and ways of thetransmutation of fiscal investment and financing circulation system;" Chapter Tl1ere"the transmutation of financial system and tl1e reforln of the main body il1 fiscalinvestment and financing circulation' the theoretic background of policy banks;"Chapter Four" conditiol1s for the effective operation of policy banks;" Chapter Five "thedevelopment of policy banks il1 China;" Chapter Six "conclusion: the basic thought ofthe development of policy banks in cl1il1a."Pioneering points of this thesis are: First, it makes a deep al1alysis of thebackground and significance of the establishment of policy banks in Cl1ina flom thevieWPoint of the transmutation of fiscal investlnent and financing cil.culation system.Second, it makes a systematic analysis of the conditions for the etTective operation ofpolicy banks, the careens development of China'S policy banks, and tl1eirProblems andhistorical limitation. Third, it proposes the basic idea of the development of china'spolicy banks: l) to establish a c... |
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