A Study On The Legal Issues Concerning The Competition Between Transnational Banks Against The Background Of Economic Globalization

The economic globalization has brought profound influence to the world economy. It facilitates the transnational flow of capital, information and human resources. International trade and investment have increased rapidly and financial globalization has also been gradually formed in this process. In the wave of financial globalization, the transnational banks have developed dramatically and have extended their business to various countries by transnational merger. The fierce competition between domestic banks and transnational banks has become the latest characteristic and important part in the financial globalization.The thesis, focusing on the competition law of transnational banks, consists of five chapters.Chapter I is the general introduction of economic globalization, including the concepts, characteristics and influences of economic globalization and financial globalization. And it analyzes the influence of globalization to the economy, especially to the legal system.Chapter II focuses on the introduction of the competition law against the background of economical globalization. It first analyzes the general theories of competition and monopoly in economical perspective, then introduces that the competition law includes anti-unfair competition law and antitrust law. Also in the chapter is the statement of the specific activities of unfair competition and monopoly as well as the functions of related agencies.Chapter III deals with the theory of transnational bank against the background of economic globalization. The concept, organizational structure and latest development are introduced in this chapter. On the basis of the above, it introduces mergers of transnational banks and other competition acts in host countries. It also analyzes the anti-unfair competition of transnational bank and discusses the competition law of host country.Chapter IV is about legislation of transnational banks in foreign countries, which mainly includes the relevant laws and cases of America and European Union as well asthe WTO's regulations of financial service, competition policy in respect of bank competition and Basel Capital Accord.Chapter V is about the competition law of transnational banks in China. Through the analysis of the current competition of transnational banks in China and the existing legislation about it, the author points out the flaws of the relevant laws. Having reviewed the Draft Antitrust Law and practices, the author provides some legislative advice to establish our own competition legal framework for the proper regulation of transnational banking competition and avoiding monopoly by taking the superior status of banks.