On Legal Problems Of Supervision Over Foreign Banks In The Context Of China's WTO Accession

After China's WTO accession, the legal system about WTO banking service commerce, whose main contents are GATS and appendices, "On the understanding of Banking Service Promise" and "Agreement on Banking Service Commerce on a Global Scale", will exert a profound influence on the reform of the legal system supervising China's foreign banks. After China's accession to the WTO, according to the promise to open banking operations, the Chinese government will progressively remove restrictions of operational businesses and regions for foreign banks. It will speed up development of bank's market. While in the mean time, the rushing in of the foreign banks will surely bring tremendous risks. Our government needs to set up and improve law system of banking in order to overcome the disadvantages brought about by the financial globalization. In order to follow pertinent regulations and the government's promises, speed up the economy development, evade the banking risks as well, an order of fair competition for foreign banks should be created to put China's monetary policies into effect, to bring the possible risks under control at the least supervision cost. Hence, how to make use of the international advanced experiences and enhance the supervision over foreign banks will be at ask for China to deepen the financial reform and protect the national economy to develop continuously, healthily and steadily.According to the WTO's relative regulations and on the basis of analyzing the developing actuality and foreground and construing the advantages and disadvantages of foreign banks, this article points out certain principles and objectives to be observed for China's legislation after the entrance into WTO and point out some problems in the foreign bank supervising. Moreover, this article put forward some advices on further improving the legislation in respect of the supervision over foreign banks.