The WTO And The Perfection Of The Securities Regulation Legal System Of China

The agreement on financial services of WTO aims at accelerating the deregulation of the financial trade in services to realize the better allocation of the financial resources worldwide and improve the efficiency of the financial market. It is the multilateral legal system of the financial trade in services and provides biding fundamental principles, regulations and systems for the deregulation of the financial trade in services by nature. Securities regulation legal system can ensure the right development direction of the financial deregulation, but it can also harm its development. So, financial deregulation, prompted by WTO, demands the reforms of the securities regulation legal system. Facing the WTO and the financial deregulation which is prompted by the WTO, nearly all countries carried through reforms in their securities regulation legal system in order to win in the fierce international competition on the one hand, and to prevent the risks of the securities market on the other hand. The Chinese securities market is founded and developed in the planned economy time under the nutrition of the government, which made the Chinese securities regulation legal system have the characteristics of the planned economy: the excessive administrative regulation., the monotonous regulation subject, the imperfect legal system, and the unclear and unscientific regulation goals. The condition of the financial depression in the country leads to the financial depression internationally. China has entered WTO. According to the agreement on financial services of WTO and the protocol on the accession of PRC, foreign financial institutions will enter the securities market of China and the Chinese public companies and securities firms will go abroad, which means the securities market of China will open to a great extent and become part of the world market. This demands the securities regulation legal system of China make corresponding reforms and perfection to adapt to the development of securities market. The thesis analyses the general impact of WTO to the national securities regulation legal system and the reforms adopted by other countries, and puts forward that the development of the securities regulation legal system of China should be based on the market, governed by the law, and should coordinate with the international world. As a conclusion, the thesis finally discusse" the corresponding reform measures of China' s securities regulation legal system.