On The Implementation Of The Banking Supervisory And Administrative Law In Our Country

"The Banking Supervisory and Administrative Law of People's Republic of China"-- the first special law on banking supervision and administration in our country-has been passed through on Dec.27, 2003 by the fifth meeting of the Standing Committee of the Tenth National People's Congress, and put into effect on Feb.1, 2004. The adoption of the BSA Law is a big event on the history of our country's financial legal construction. This report intent to, with the analyses on the necessity and urgency to draw up of the BSA Law and the outline of the contents of the BSA Law, reveal the significance of implementation of the BSA ; Law.'The report has been divided into four parts including introduction, the first chapter on drawing up of BSA Law, the second chapter on the main outline of the contents of the BSA Law, and the third chapter on the significance of implementation of the BSA Law.The introduction part explained briefly the concept and character of the BSA Law. The first chapter, with analyzing the supervisory legal condition before the emerging of the BSA Law, discuss the necessity and urgency to enforce the BSA Law, and introduce the course of its coming onto stage. The second chapter introduce the main outline of the contents of the BSA Law, the legislation purpose and supervisory aim in great details. The third chapter expound on thesignificance of implementation of the BSA Law, the main point of the report. The report provided and expounded eight significant point of the implementation of the BSA Law: 1. Provides the legal guarantee for the banking supervision; 2. Establishes the legal place of the Banking Regulatory Commission in the form of law; 3. Clarifies the responsibility of supervisory subject, and strengthens the supervisory means and measures; 4. Regulates and limit the process of supervisory power; 5. Benefits the cooperation and coordination of financial supervision; 6. Provides the turning point to join with the global market; 7. Adapts the tendency of global financial supervision; 8. Copes with challenge to our banking supervisory system from the foreign capital banks after the entrance of WTO.