Analysis On The Supervision And Regulation System Over The Market Access Of Foreign Banks Into China

Upon the entry into WTO, China has been fulfilling her promise of gradually opening up the financial services market. The access of foreign banks in a huge number promotes the development of our financial industry, as well affects the stability of the whole financial system. Thus, to effectively control the financial risks and ensure the steady, stable, safe and sound progress of our financial industry, we should supervise and regulate the foreign banks, especially their the market access. This article intends to, through the analysis of the current supervision and regulation system of foreign banks' market access and the study of the well-tested laws and practices around the world, raise some proposals benefiting our China's legislation on it.Theoretical, positive and comparative analysis measures are taken in this article. There are three chapters:The first Chapter is a general analysis on the supervision and regulation system of foreign banks' market access. It gives an introduction to foreign banks' market access. Through analysis over the negative influence of the market access of foreign banks and the trend of financial globalization,and supported by the theories both in economics and legal aspects, the necessity of the supervision and regulation system of foreign banks' market access is concluded. Additionally, it gives a brief review to the four supervision and regulation principles in international practice and the main issues of market access supervision and regulation.The second Chapter is the laws and regulations of market access supervision and regulation in the world and flaws of ours. It takes the developed country U.S.A and the developing country Korea as two typical examples and makes a comparison of their respective systems. And it briefly introduces the legal framework of WTO and agreements of Basle Committee. In that way, it points out the flaws of our laws and regulations of market access supervision system.The third Chapter, upon the analysis of the aforementioned chapters, gives some proposals from the macro, mid and micro aspects to improve our supervision and regulation system of foreign banks' market access.Finally, complying with the legal frame work of WTO and our promises in entry of WTO, at the same time, taking our economic and financial situations into consideration, we should clearly define the goals and principles of our supervision and regulation system, and under thedirection of them creates a rational legal system and framework, amends and improves the laws and regulations in force, and cooperate with other supervision bodies around the world on a wider level, so as to keep a consecutive and efficient supervision and regulation over the foreign banks and finally to ensure the stability and development of the internal financial market.