Study Of Financial Integrated Operation In China

This dissertation begins with the theory of the Financial Integrated Operation (FIO). Then it takes up the problems of the FIO in China by means of discussing the developing process of the FIO in the developed countries, the benefit and efficiency of our financial operation, the problems of Universal Banking, the prospect of our financial integration, and so on. The FIO originated in America in the Big Depression in the 1930's. During this period, the immediate reason for the Big Depression was not that the Commercial Bank operated and invested in the banking business. In the 1990's, the western countries gave up the Financial Segregated System (FSS) one by another and admitted the financial institutions to operate kinds of financial business. Therefore, the FIO became the mainstream of the international finance.There are two main purposes in this dissertation. The first one is to discuss the process of the development of the FIO in the developed countries. In this process, the most representative one was American FIO's developing process, we learn that it is an inevitable result that the Financial Integrated System (FIS) replaced the FSS and became the mainstream of the international society. In this purpose, Let's analyze the theory of FIO. The FIO has not only the economy of scale and that of scope, but also the effect of Assets Portfolios and that of curve study, so that it can lower production and transaction costs and reduce the risks of operation. Thus it can gain the upper hand in the competition. And from the analysis of the background history and reality of the American FIO's development from integration tointegration, we draw a conclusion that American FSS was the production of the certain situation in the 1930's. It was the best choice in accordance with American situation at that time. Thus the American economy was promoted and the society was stabilized. With the variations of the global macroeconomic situation, the FSS hindered the development of American finance. And it also weakened the competitive power of the American financial institutions in the international financial market. Under the internal and external pressure, the Financial Services Modernization Act of 1999 was carried at the end of the 20th century. According to this Act, the financial institutions can deal in kinds of financial business so that they can strengthen the competitive power of American finance in the international market.The second one is trying to apply the experience of the FIO in the developed countries in the practice of the FIO in our country. The FIO is compatible with the development of the modern global economy. But our financial institutions are regulated in the scope of narrow business. So the FSS has been the obstacle to the further development of our finance. In this purpose, firstly, Let's analyze the achievements and the serious problems in our finance during the past years. Not only does it have no high benefit and efficiency, but also it has not competitive power compared with the most financial institutions under the Universal Banking System in the world. So our FSS can't keep abreast of the times. Secondly, Let's discuss the advantages and disadvantages of the financial institutions in the system of Universal Banking. Generally speaking, the Universal Banking operation has fewer risks than the Special Financial Institution. And the former is much more stable than the latter. The government authorities worry about the FIO in uncalled-for. Some problems can be solved in other ways. Therefore, when the time is ripe, the FIO should be carried out. Thirdly, Let's analyze the developing prospect of our finance. Today, the global economic development has made great changes, and the FIO has beenthe trend of the times. As the Universal Banking invested exclusively by the foreign is entering our financial services business, it's extremely urgent to promote our power in competition. According to the FIO experience in the developed countries, we don't have the conditions to form the Universal Ba...