Legislation Of The Financial System Research

Financial system, namely financial administrative system, shows the financial relations between the different levels of the government. It's basic parts include the position and responsibility of the government on each level in financial activities, the allocation of the financial revenue and expenditure and the settlement of monetary transfer between the different levels of government, and the integration of each independent parts into a complete whole. The establishment of the financial system is the basis in the financial system of all countries. Therefore, all countries the world over regard the legislation of the financial system as an important part.There existed chaos of finance in China since the founding of P.R. China. For example, the goals of the finance are not specific, the mechanism of finance is not reasonable, and the division of jobs between the central and the local finance departments is always changing. It seems to be a problem of finance per se, but in reality it is closely related to the backwardness of the legislation of finance in China. So far China still remains at the level of administrative control and not up to the level of legal management yet. As a result, the activities in financial practice are not stable and regulated. In recent years, the field of law has paid much attention to the study of finance and the general situation of the legislation of finance has greatly improved. Still more attention is needed from the field of law. It can be stated that the present practices in the financial system in China limit the steps in the reform of China's financial system.After more than half a year's data collection and study, the present research proposes a framework with the following four parts:Part One concerns with the specification of financial system and its legislation. In this part, the essence and implications of finance are introduced and the position of the law of the financial system is discussed. Then, the primary content of the law of the financial system is specified. It is obvious that the law of the financial system should embrace the administration of finance on different levels, and the classificationof financial revenue and expenditure between the central and the local financial departments. The specification of the duties of financial administration is an important part in the law of finance and is the basis of the structure of the law of finance.Part Two introduces the legislation of finance in foreign countries. Due to the lack of resource of the legislation of finance in China, the present research mainly introduces the reasons for the legislation of finance in foreign countries and the different models adopted-classified finance and multi-level finance, the division between central finance and the federal finance. Some discussion is made concerning the systems, the methods, types, and characteristics of financial transfer payment.Part Three discusses the present situation and the limitations of the legislation of finance in China. The different stages the practices of legislation of finance both before China's reform and opening-up to the outside world and after the legislation of finance in 1994 are discussed. In the discussion of the characteristics of the legislation of China's finance, some problems and defects are observed, such as the low level of legislation and the serious centralization of power.Part Four offers some suggestions for improving the legislation of finance in China. After the discussion of the present situation and the problems and defects in the legislation of finance in China in Part Three,the present research proposes that the legislation of finance in china can be improved by raising level of legislation, choosing the right objective model, which includes the legislation of specification of application and administration, the legislation of the power in financial revenue and expenditure, and the legislation of transferred payment. In a word, the legislation of the finance system in China is to establish a scientif...