Research On The Value, Quality And Marketing Strategy Of E-Securities In China

The reform of the tax distribution system of China has been implemented since 1994, our country has established the finance transfer payment system initially, which played the very vital role continually by sharpening the macroeconomic regulation and control ability of the central government, guaranteeing social politics stable, promoting economy fast and healthy development, aspects and so on. But, our country has not carried on the special legislation until now to the finance transfer payment, which causes that the administrative organ and the department related to the work grasping the decision-making power with to carry out power of the finance transfer payment, and make the main body of the finance transfer payment multiplicative and confused, the problem of"running for money to the department"appears immediately, and seriously influence the function of finance transfer payment and the goal of the national policy. From this, the article conducts the quite thorough research to the intergovernmental finance transfer payment legislation, in order to propose some basic tentative plan that can consummate the finance transfer payment legislation of China, through analysis the successful experience of overseas finance transfer payment legislation and the present situation of China. So, it will enable the system of the finance transfer payment to march into the track of standardization and legalization, and will solve the problem well that facing the finance transfer payment of our country in the process of constructing socialism harmonious society.The article embarks from the angle of the economic law of the finance transfer payment system, combine many disciplines, like the politics, the economic, and the jurisprudence and so on. The article synthetically use many kinds of research techniques, such as the comparative analysis,the historical analysis,the value analysis and so on, to launch the analysis proof, and conduct quite thorough research to the legislative question of the intergovernmental finance transfer payment system.The first part of the article makes the general elaboration to the elementary theory of the finance transfer payment. First, the article outlines the origin of the transfer payment briefly, and limits the concept of the finance transfer payment from the legal science angle. Next, the article elaborate the characteristic,the type of the finance transfer payment, and detailedly analysis the goal of the transfer payment, and point out that the goal of the finance transfer payment has been divided into three levels——to realize balanced development of the sector economy relatively, to realize equalization of the intergovernmental financial capacity and the collective services level, and to realize the social justice. At the same time, the article outline the two important functions of the finance transfer payment——to guarantee the realization of the national macroeconomic goal and alleviate the contradiction of the"fairly with the efficiency", safeguard social justice realization. Last, the article analysis the three rationale of the finance transfer payment, namely the theory of graduation public product, the theory of the financial macroeconomic regulation and the theory of the decentralization with keeps in balance, providing the rationale for the following research.The second part of the article mainly introduce the success practice of the finance transfer payment legislation of the overseas developed country, and comprehensive appraises, from which we can absorb some beneficial experience and enlightenment to the finance transfer payment legislation of our country in the future. Specifically speaking, this part mainly introduces the legal system of the finance transfer payment of the four countries (American, German, Japanese and Canada). Through the quite thorough analysis, we can discover that the developed country has several common ground in the finance transfer payment to be worth us using for reference in the finance transfer payment, namely the legalization of the transfer payment system, the intergovernmental governance and property rights of all levels are limited clearly, many kinds of the way of transfer payment are utilized comprehensively, the assignment of the transfer payment fund has the strict objective test, and the system of the transfer payment has quite perfect mechanism of the management and supervising.The third part of the article mainly analyzes the legislative present situation and the insufficiency of China's finance transfer payment system. On the one hand, the article outlines the legislative condition of the present finance transfer payment of our country, which from three levels of the related legislates of the budget law, the State Council and Ministry of Finance as well as the provincial level local authority. On the other hand, through analysis the present legislation stipulation of our country, the article mainly promulgate the problem and flaw of our country's present legislation, mainly display in the following six aspects: the legislative level is low and the legal authority is insufficient; the division of intergovernmental governance and the property rights are fuzzy, and not unified; there are many types of the finance transfer payment, the structure is unreasonable; the method of fund allocation of the finance transfer payment is unscientific; there are not stipulation about the rights and obligations of the transfer payment main body; it is short of the effective surveillance system and the liability system.The last part of the article, in the first three part of analysis's foundation, suggest some proposals about how to consummate the present legislation of China's finance transfer payment. On the one hand, the article discusses the legislative idea and the basic principle that we should follow in the process of our country's legislation of the finance transfer payment. The article thinks that finance transfer payment legislation should implement the idea of the economic law, adapt with the process of the finance reform, pay proper attention to realistic feasibility and the moderate foresightedness, and combine the Chinese and the internationalization. At the same time, the article stresses that the legislation should insist uniformity between the governance and the property rights, and implement fair, public and legal principle. On the other hand, the article suggests some concrete tentative plans to the problems which existed in China's present legislation of the finance transfer payment. Including: to clear about the legal status of"Finance Transfer Payment Law"and formulate the law as soon as possible; to divide all levels of the government's governance and the property rights scientific and reasonably; to simplify and standard the fundamental mode of the finance transfer payment; to unite the distribution method of the finance transfer payment fund; to clear about the rights and obligations of the finance transfer payment main body; to set up the reasonable surveillance system and the liability system of the transfer payment.