A Study On The Development Of Non-bank Financial Institutions In The Course Of China's System Reform

Economic development causes financial deepen. The course of economic development in developed market country indicate financial deepen must follow improvement of financial structure, and among the course, the proportion of non-bank financial institutions will increase constantly. Non-bank financial institutions can meet residents and enterprise's diversified financial demands, realize the basic function of the financial system to the full, improve financial efficiency and promote the development of real economy. In the course of China's system reform, economy increases fast, economic monetization and financization moving forward at a high speed, but the proportion of non-bank financial institutions has not increased correspondingly, and its inside structure is unreasonable also. The development of non-bank financial institutions is held up, which restricts the efficiency of China's financial system and the development of the real economy. The thesis places emphasis on analysis the reasons that China's non-bank financial institutions is held up. The thesis thinks China's economic development level has restricted the diversified financial demands of the residents and enterprises, has limited the division of labor within financial circles; In the course of China's system reform, the irrational expanding of state-owned banks caused "run on a bank" to non-bank financial institutions, and the financial risks which were pregnant by state-owned banks worsen the development environment of non-bank financial institution too; From the institution vicissitude point of view, the production of China's non-bank financial institutions was the result of financial institution vicissitude since reform and open to the outside world, therefore the way of financial institution vicissitude determine the development characteristics of non-bank financial institutions. Market mechanism has not fully brought into play and enterprise has not really set up exclusiveness property right, which have fundamentally determined the lagging condition of China's non- bank financial institutions. Finally, the thesis puts forward some proposals on the development of China's non-bank financial institutions.