On The Authorities Of The China Banking Regulatory Commission In The Field Of Administrative Law And Economic Law

As it is congruous with the constitution of administrative subject, The China Banking Regulatory Commission (CBRC) belongs to administrative subjects in the scope of administrative law. It will exert administrative authorities empowered by law. In the field of economic law, CBRC is the mechanism of governmental supervision and it exerts economic power according to governmental policies.Administrative authority is the abstract subject on the base of the concrete contents of governmental authorities in the field of administrative law. As the other governmental mechanisms, CBRC has administrative authority of admission, punish, and compulsion, which is characterized by formalism and procedures. Economic power refers to the power of government's supervision on economy. Different mechanisms are empowered with different economic power. CBRC is in possession of financial supervision. The relationship between economic power and administrative authority coincides with the relationship of contents and formalism. The division of two authorities is the key element that endows administrative law and economic law with different angles of view on the control of governmental authorities.According to administrative law, we should take measures from three constituents of administrative authority to control CBRC: firstly, to ensure the perspicuity of the subject that exert administrative authority, which is the precondition of administration. Secondly, to establish the censorial mechanism and supervision mechanism on illegal administrative conducts. It forms the central part of administration. Thirdly, to set up mechanisms to validate and regulate administrative responsibilities, which will guarantee the exertion of administrative authorities. CBRC still needs enhancement in the above-mentioned aspects according the author of this paper.According to economic law, we should focus on the validity to control the economic power of CBRC: Effective supervision is the key element in exerting economic power of CBRC under the condition of being congruous with principles of administrative law. However, according to the conclusion on the analysis of demonstration and criterion, the ineffective existence of government has influenced greatly on the validity of financial supervision. We need to improve the independence of CBRC in implementing supervision responsibility and extend the market...